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SBA Makes Low Interest Disaster Loans Available for Fire Victims in Florida

WASHINGTON, Apr. 10 /PRNewswire/ --

WASHINGTON, April 10 /PRNewswire-USNewswire/ -- Low-interest disaster loans will be made available by the U.S. Small Business Administration to Florida residents and businesses affected by the devastating fire in the city of Fort Lauderdale on March 10, 2008, SBA Administrator Steve Preston announced today.

Administrator Preston took this action following an April 3 letter from Florida Governor Charlie Crist requesting a disaster declaration by the SBA. The declaration covers Broward County and the adjacent counties of Collier, Hendry, Miami-Dade and Palm Beach in the state of Florida.

"We look forward to working with residents of Florida affected by the fire to make SBA disaster loans available to homeowners, renters and businesses," said Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said, "Residents, both homeowners and renters, are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. The SBA's Customer Service Representatives will be on hand at the Disaster Loan Outreach Center to issue loan applications, answer questions about the SBA's disaster loan program, explain the application process and help individuals complete their application."

The Center location and hours of operation are:

Broward County

Sunny Reach Acres

Sunny Reach Acres Community Room

100 SW 18th Avenue

Fort Lauderdale, FL 33312

Opens: Monday, April 14 at 1 p.m. - 5 p.m.

Hours: Tuesday, April 15 - Friday, April 18, 8:30 a.m. - 5 p.m.

Saturday, April 19, 10 a.m. - 2 p.m.

Monday, April 21 - Thursday, April 24, 8:30 a.m. - 5 p.m.

Closing: Thursday, April 24 at the close of business

Francisco A. Marrero, SBA's South Florida District Director stresses, "Low-interest Federal disaster loans are available to renters, homeowners, businesses of all sizes and private non-profit organizations whose property was damaged or destroyed by the fire."

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, equipment, inventory, and other business assets. The SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage in the future.

For small businesses only, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Individuals and businesses unable to visit the Center in person may obtain information and loan applications by calling tollfree (800) 659-2955. Hearing impaired individuals may call (800) 8778339.

The filing deadline to return applications for physical property damage is June 9, 2008. The deadline to return economic injury applications is January 9, 2009.

For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov.