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

***Economic Injury Loans for Small Businesses***

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

**Release Date:** October 12, 2007 **Contact:** Kathy Cook

**Release Number:** 08-034, NC 11038 **Phone:** 404-347-3771

**SBA DISASTER LOANS AVAILABLE IN VIRGINIA FOLLOWING**

**SECRETARY OF AGRICULTURE DISASTER DECLARATION**

**ATLANTA -** The U.S. Small Business Administration announces that
federal disaster loans are available to small businesses located in the
counties of Brunswick, Carroll, Grayson, Greenville, Halifax, Henry,
Mecklenburg, Patrick, Pittsylvania and Southampton and the Independent
Cities of Danville and Suffolk in the Commonwealth of Virginia as a
result of drought and high temperatures that occurred January 1, 2007
and continuing.

"These counties are eligible because they are contiguous to one or more
primary counties in the State of North Carolina. The Small Business
Administration recognizes that disasters do not usually stop at county
or state lines. For that reason, counties adjacent to primary counties
named in the declaration are included," according to Frank Skaggs,
Director of SBA Field Operations Center East.

"When the Secretary of Agriculture issues a disaster declaration to help
farmers recover from damages and losses to crops, SBA issues a
declaration to assist small businesses affected by the same disaster,"
said Skaggs.

Under this declaration, the SBA's Economic Injury Disaster Loan program
is available to farm-related and nonfarm-related small business concerns
and small agricultural cooperatives that suffered financial losses as a
direct result of this disaster. Farmers and ranchers are not eligible to
apply to the SBA, but nurseries are eligible to apply for economic
injury disaster loans for losses caused by drought conditions.

Eligible small businesses may qualify for loans up to \$1.5 million.
These loans are available at a 4 percent interest rate with loan terms
up to 30 years. The SBA determines eligibility for the program based on
the size and type of business and its financial resources. Loan amounts
and terms are set by the SBA and are based upon each applicant's
financial condition. Under this disaster declaration, the SBA cannot
provide loans to agricultural producers.

Interested business owners should contact the SBA's Customer Service
Center by calling 1-800-659-2955\
(1-800-877-8339 for the hearing-impaired) Monday through Friday from 8
a.m. to 9 p.m. and Saturday from\
9 a.m. to 5:30 p.m. EDT. Loan applications can be downloaded from
[www.sba.gov/services/disasterassistance](http://www.sba.gov/services/disasterassistance).
Completed applications should be mailed to U.S. Small Business
Administration, Processing and Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.

**Completed loan applications must be returned to SBA no later than [May
12, 2008.]{.underline}**

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***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)*.*