Governor Perdue Announces Approval of SBA Disaster Assistance

ATLANTA – The U.S. Small Business Administration (SBA) has approved Governor Perdue’s September 1 request for disaster assistance and declared Carroll and Peach counties and the contiguous counties of Bibb, Coweta, Crawford, Douglas, Fulton, Haralson, Heard, Houston, Macon, Paulding and Taylor as disaster areas due to the severe weather that occurred August 29, 2005 in association with Hurricane Katrina.

“Hurricane Katrina spawned tornadoes and severe weather in Georgia as the outer bands of the storm swept through our state,” said Governor Sonny Perdue. “I appreciate the financial support of the Small Business Administration for Georgians as they work to recover from the effects of Hurricane Katrina.”

SBA has opened a temporary loan assistance center in Carroll County at the Carroll County Administration Annex, 423 College Street, Room 501, in Carrollton; and in Peach County at the Peach County Court House, 205 W. Church Street in Fort Valley. Both centers opened today and will remain open weekdays from 8:00 a.m. until 5:00 p.m., until further notice. The centers will also be open Saturday, September 17 from 10:00 a.m. until 2:00 p.m.

SBA offers loans up to $40,000 for homeowners and renters to repair or replace disaster damaged personal property such as furniture and clothing. Homeowners are eligible for loans up to $200,000 to repair disaster damaged primary residences. Loans to businesses of all sizes and non-profit organizations are available for up to $1.5 million to repair damage to real estate, machinery and equipment, and inventory. Economic Injury Disaster Loans (EIDLs) are also available to small businesses unable to pay bills or meet operating expenses.

Interest rates are as low as 2.687 percent for homeowners and renters 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.

The deadline for physical damage applications is November 7, 2005 and the deadline for economic injury applications is June 7, 2006.