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

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

**Release Date:** May 9, 2007 **Contacts: Michael Lampton**

**Release Number:** 07-376, NY 10852/10853 **Phone:** 404-347-3771

**SBA [URGES]{.underline} NEW YORK VICTIMS OF RECENT STORMS AND FLOODING
TO RETURN LOAN APPLICATIONS**

**NEW YORK --** The U.S. Small Business Administration (SBA) urges
recent storms and flood victims to return applications even if they have
insurance. Those who do not return their SBA application may be missing
out on referral for additional help for individuals in the form of
grants.

Homeowners, renters, and business owners who are not fully covered by
insurance may need additional funding to replace items and complete
their repairs. "A disaster loan could close the funding gap and provide
the necessary financing to help victims recover from their losses," said
Frank Skaggs, Director of SBA Field Operations Center East.

If a victim is not aware of the amount of their insurance settlement,
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.

"Waiting to file an application could cause unnecessary delays in
receiving disaster assistance, and could cause disaster victims to miss
the SBA application deadline," Skaggs added. "SBA's Disaster Loan
Representatives are available at Disaster Recovery Centers located
throughout the disaster area to answer questions and provide one-on-one
assistance with completing the applications."

Disaster 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. 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 and equipment, inventory,
and other business assets. 

 

For small businesses, 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
property damage.

Anyone unable to visit one of the Centers may obtain an application by
calling the SBA's Customer Service Center at 1-800-659-2955
(1-800-877-8339 for the hearing-impaired) Monday through Friday 8 a.m.
to 9 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 returned to one of the Centers or
mailed to: U.S. Small Business Administration, Processing and
Disbursement Center,\
14925 Kingsport Road, Fort Worth, Texas 76155.

The deadline to return applications for physical loan applications is
**[June 25, 2007]{.underline};** the deadline to return application for
economic injury is **[January 24, 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)[.]{.underline}*