***Disaster News***![](media/image1.png){width="1.5847222222222221in"
height="0.7277777777777777in"}

***Loans for Homeowners, Renters and Businesses of All Sizes***

**SBA Disaster Assistance -- Field Operations Center- East - One
Baltimore Place, Suite 300 - Atlanta, GA 30308**

Release Date: July 27, 2007 Contact: William Manger (212) 264-1450

Release Number: 07-578, NY 10949/10950 Michael Lampton (404) 347-3771

## 

## 

## 

## SBA Offers Disaster Assistance To New York Businesses And Residents Affected By The Recent Steam Pipe Explosion

**WASHINGTON --** Steven Preston, Administrator of the U.S. Small
Business Administration (SBA) announced that low-interest disaster loans
will be made available to New York businesses and residents affected by
the steam pipe explosion that occurred on July 18, 2007.

Administrator Preston took this action following a July 24 letter from
New York Governor Eliot Spitzer requesting a disaster declaration by
SBA. The declaration covers New York County and the adjacent counties of
Bronx, Kings and Queens in the State of New York and neighboring Bergen
and Hudson counties in the State of New Jersey.

"We look forward to working with New York and the people affected by the
pipe explosion to make SBA disaster loans available to homeowners,
renters and businesses," said Administrator Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said,
"Loans up to \$200,000 are available to homeowners to repair or replace
damaged or destroyed real estate. Homeowners and renters are eligible up
to \$40,000 to repair or replace damaged or destroyed personal property.
SBA's Customer Service Representatives will be on hand at the following
Disaster Loan Outreach Center to issue loan applications, answer
questions about SBA's disaster loan program, explain the application
process and help individuals complete their application."

The Center will be located in the following community and will open as
indicated:

**[New York County]{.underline}**

Commerce Bank

317 Madison Avenue

New York, New York 10018

Opens: Monday, July 30 at 8 a.m.

Hours: Monday -- Saturday from 8 a.m. to 6 p.m. until further notice

Hubert Austin, SBA's New York Deputy District Director stresses,
"Low-interest Federal disaster loans are available to homeowners,
renters, businesses of all sizes and private, non-profit organizations
whose property was damaged or destroyed by the explosion."

Businesses of any size and private non-profit organizations may borrow
up to \$1.5 million to repair or replace damaged or destroyed real
estate, machinery, equipment, inventory, and other business assets. SBA
can also lend additional funds to help with the cost of making
improvements that protect, prevent or minimize the same type of disaster
damage from occurring in the future.

-more-

## Page 2

## SBA Offers Disaster Assistance To New York Residents And Businesses Affected By the Recent Steam Pipe Explosion

For small businesses only, SBA offers Economic Injury Disaster Loans
(EIDLs) to help meet working capital needs caused by the disaster. EIDL
assistance is available regardless of whether the business suffered any
physical property damage.

Individuals and businesses unable to visit the Center in person may
obtain information and loan applications by calling toll‑free **(800)
659-2955**. Hearing impaired individuals may call (**800) 877‑8339**.

The filing deadline to return applications for physical property damage
is **September 25, 2007**. The deadline to return economic injury
applications is A**pril 28, 2008**.

\###

***For more information about the SBA's Disaster Loan Programs, visit
our website at**
[www.sba.gov/services/disasterassistance](http://www.sba.gov/services/disasterassistance)*