Governor Perdue Announces Approval of SBA Disaster Assistance for Glynn County

ATLANTA- In response to Governor Sonny Perdue's October 13 request for disaster assistance for Georgians impacted by Tropical Storm Tammy, the U.S. Small Business Administration (SBA) has declared Glynn County and the contiguous counties of Brantley, Camden , McIntosh and Wayne disaster areas.  Homeowners, renters, landlords and business owners located in these areas are now eligible to apply for low-interest disaster loan assistance.

“SBA has again acted quickly to make these resources available to storm victims so that they can get their homes and lives back in order as soon as possible,” said Governor Sonny Perdue.

SBA has set up a disaster loan assistance office at the Harold Pate Building located at 1725 Reynolds Street in Brunswick .  The center will be open from 8:00 a.m. until 5:00 p.m., Monday through Friday and 9:00 a.m. until 1:00 p.m. on Saturday. The center will be closed on Sunday. 

The deadline for physical damage applications is December 19, 2005 and the deadline for economic injury applications is July 20, 2006.

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 four 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.

Additional information on the SBA Disaster Assistance Program can be found at http://www.sba.gov/disaster .