June 16, 2011
Disaster assistance loans available for flash flood victims
Low-interest federal disaster loans are available to Kansas residents and business owners affected by the flash flooding that occurred June 1-2 in Riley County, U. S. Small Business Administration Administrator Karen G. Mills announced. The Small Business Association acted under its own authority to declare Riley County a disaster in response to a June 9 request from Gov. Sam Brownback.
The disaster declaration makes assistance available in Riley County and the neighboring counties of Clay, Geary, Marshall, Pottawatomie, Wabaunsee and Washington.
“The U. S. Small Business Administration is strongly committed to providing the most effective and customer-focused response possible to assist those residents and businesses affected by flash flooding with federal disaster loans,” said Mills. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“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 disaster,” said SBA’s Kansas District Director Wayne Bell. “Beginning Thursday, June 16, SBA 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, help each individual complete their application and close their approved loans,” Bell continued.
The center will be open on the days and times indicated. No appointment is necessary.
Disaster Loan Outreach Center
Manhattan Public Library
(corner of Poyntz and Juliette Avenues)
629 Poyntz Avenue
Manhattan, KS 66502
Opens Thursday, June 16
Mondays through Fridays
9 am – 5:30 pm
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for 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 $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The Small Business Association can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses and most private, non-profit organizations of any size, the Small Business Association offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. The assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 2.688 percent for homeowners and renters, 3 percent for private, non profit organizations and 4 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.
Applicants may apply online using the Electronic Loan Application via the Small Business Association's secure website.
Disaster loan information and application forms are also available from the Small Business Association’s Customer Service Center by calling toll-free at (800) 659-2955, via email, or online. Hearing impaired individuals may call (800) 877-8339.
The filing deadline to return applications for property damage is August 15, 2011. The deadline to return economic injury applications is March 14, 2012.
For more information, visit the Small Business Association's website.
SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841.