***\`0 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

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**Release Date:** August 6, 2007 C**ontact:** Michael Lampton **Release
Number:** 07-594, MS 10915/10916 **Phone**: (404)-347-3771

**SBA'S DEADLINE TO APPLY FOR DISASTER LOANS IS AUGUST 27**

**HATTIESBURG, Miss. --** The U.S. Small Business Administration (SBA)
is reminding homeowners, renters, non-profit organizations and
businesses that less than one month remains to submit disaster loan
applications for damage caused by severe storms and flooding of June 19,
2007. **The deadline to file an application for physical damage is
August 27, 2007.**

Homeowners, renters, non-profit organizations and businesses that
sustained physical damage in Coahoma, Grenada, Leflore, Panola, Quitman,
Sunflower, Tallahatchie and Yalobusha counties in the State of
Mississippi are eligible to apply.

SBA offers loans up to \$200,000 to repair disaster damaged primary
residences. Homeowners and renters are eligible for loans up to \$40,000
to replace personal property such as furniture, appliances and clothing.
Loans up to \$1.5 million are available to businesses of all sizes and
non-profit organizations to repair damage to real estate, machinery,
equipment and inventory. Economic Injury Disaster Loans (EIDLs) are also
available to small businesses unable to pay bills or meet operating
expenses because of the disaster.

Interest rates can be as low as 2.875 percent for homeowners and renters
and 4.000 percent for businesses with terms up to 30 years. Loan amounts
and terms are set by SBA and are based upon each applicant's financial
condition.

Additionally, disaster victims with insurance should not wait for a
settlement before applying to SBA. If a victim does not know how much of
their loss will be covered by insurance or other sources, SBA will
consider making a loan for the total loss up to its loan limits,
provided the borrower agrees to use insurance proceeds to reduce or
repay their SBA loan.

SBA also offers mitigation funds to disaster victims that have approved
physical loans. SBA mitigation funds are designed to help borrowers fund
protective measures to prevent damages of the same kind from recurring
in the future. To help fund these protective measures, borrowers may
request an additional 20 percent of their approved loan amount.

Applications and program information remain available by calling the
SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the
hearing impaired), Monday through Friday from\
8 a.m. until 9 p.m. and Saturday from 9 a.m. to 5:30 p.m. EDT. Business
loan applications can also be downloaded from the SBA website at
[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, Ft. Worth, TX. 76155.

The filing deadline to return applications for physical property damage
is **[August 27, 2007]{.underline}**. The filing deadline to return
economic injury applications is **[March 28, 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).