SBA Loans Still Available to Remedy Mississippi Storm Damage

The U.S. Small Business Administration said homeowners, renters, businesses and non-profits in Hinds County have one month left to submit disaster loan applications for damage caused by the severe storms and tornadoes of April 4.

The deadline to file is July 28. Applicants can download forms from the SBA website or register with the Federal Emergency Management Agency by calling 1-800-621-3362.

Homeowners and renters are eligible for loans up to $40,000 to replace personal property such as furniture, appliances and clothing. Loans up to $200,000 are available to homeowners to fix or replace damaged or destroyed real estate.

Loans up to $1.5 million are available to businesses and non-profits to repair damage to real estate, machinery, equipment and inventory.

Economic injury disaster loans are also available to small businesses unable to pay bills or meet operating expenses because of the disaster. The deadline for economic injury applications is March 2, 2009.

Source: The Clarion-Ledger.