The U.S. Small Business Administration (SBA) will open a Business Recovery Center to help businesses impacted by the severe storms and flooding in Georgia that began on September 18, 2009.
The Center opens at the Douglas County Chamber of Commerce, 6658 Church Street, Douglasville, GA 30134, on Monday, October 5, at 9 a.m. and SBA’s representatives will be there to answer questions about the disaster loan program and help individuals complete their applications.
The disaster declaration covers Bartow, Carroll, Catoosa, Chattooga, Cherokee, Cobb, Coweta, DeKalb, Douglas, Fulton, Gwinnett, Heard, Newton, Paulding, Rockdale, Stephens and Walker in the state of Georgia which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.
The following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Banks, Barrow, Butts, Clayton, Dade, Dawson, Fayette, Floyd, Forsyth, Franklin, Gordon, Habersham, Hall, Haralson, Henry, Jackson, Jasper, Meriwether, Morgan, Pickens, Polk, Spalding, Troup, Walton and Whitfield in the state of Georgia; the counties of Cherokee, Cleburne, DeKalb and Randolph in the state of Alabama; the county of Oconee in the state of South Carolina; and the county of Hamilton in the state of Tennessee.
Businesses and non-profit organizations may borrow up to $2m for physical losses.
SBA’s Economic Injury Disaster Loans, which have interest rates are as low as 4%, with terms up to 30 years, help small businesses, and most private non-profit organizations of all sizes, to meet working capital needs caused by the disaster.
Application deadlines are November 23, 2009 for physical property and June 24, 2010 for economic injury.