SBA Offers Disaster Assistance to
Arizona Residents and Businesses
Affected by the January Severe
Winter Storm & Snowstorm
Low-interest federal disaster loans are available to Arizona residents and business owners affected by the severe winter storm and snowstorm that occurred January 18 through 22, 2010, said U. S. Small Business Administration (SBA) Administrator Karen G. Mills. SBA acted under its own authority to declare a disaster following the July 22, 2010 denial of the state’s request for a major disaster declaration.
The disaster declaration makes SBA assistance available in the Arizona counties of Coconino, Gila, Graham, La Paz, Maricopa, Mohave, Navajo, Pinal and Yavapai. “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 the severe winter storm and snowstorm 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 Robert J. Blaney, SBA’s Arizona District Director. “Beginning Wednesday, July 28 at 9 am, SBA customer service representatives will be on hand at the following Disaster Loan Outreach Centers 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,” Blaney continued. The centers will be open on the days and times indicated. No appointment is necessary.
Gila County
Disaster Loan Outreach Center
Kiwanis Club of Tonto Basin
227 Old Highway 188
Tonto Basin, AZ 85553
Opens: Wednesday, July 28
Closes: Thursday, August 12
Hours: Mondays through Fridays 9 am – 4 pm
Yavapai County
Disaster Loan Outreach Center
High Desert Park Clubhouse
19001 East Jacie Lane
Black Canyon City, AZ 85324
Opens: Wednesday, July 28
Closes: Thursday, August 12
Hours: Mondays through Fridays 9 am – 6 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. SBA 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, 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.
Interest rates can be as low as 2.562 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.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling SBA toll-free at (800) 659 2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at www.sba.gov/services/disasterassistance. Hearing impaired individuals may call (800) 877 8339.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
