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SBA Offers Disaster Assistance to Virginia Residents Affected by Tropical Storm Ernesto

SB Informer
Tuesday, October 17, 2006; 08:34 AM

Steven C. Preston, Administrator of the U.S. Small Business Administration (SBA) announced that low-interest disaster loans will be made to Virginia residents affected by Tropical Storm Ernesto that occurred on August 30 through September 1, 2006.

Administrator Preston took this action following an October 13 letter from Virginia Governor Timothy Kaine requesting a disaster declaration by SBA. The declaration covers the independent cities of Hampton, Newport News and Richmond; the counties of Gloucester, Northumberland and the adjacent independent city of Poquoson; the adjacent counties of Chesterfield, Henrico, James City, King and Queen, Lancaster, Mathews, Middlesex, Richmond, Westmoreland and York in the Commonwealth of Virginia.

"We look forward to working with Virginia and the people affected by Tropical Storm Ernesto to make SBA disaster loans available to homeowners, renters and businesses," said Administrator Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said, "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. SBA's 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 and help individuals complete their application."

The Centers will be located in the following communities and will open on
the indicated days and times:

    City of Richmond                   Cities of Hampton and Newport News
    Norrell School Annex               Y. H. Thomas Center
    201 West Graham Road               1300 Thomas Street
    Richmond, VA 23222                Hampton, VA 23669
    Opens: Tuesday, Oct. 17;           Opens: Wednesday, Oct. 18;
            from 1 p.m. - 7 p.m.                from 10 a.m. - 7 p.m.
    Hours: Monday-Friday;              Hours: Monday-Friday;
            10 a.m. - 7 p.m.                    10 a.m. - 7 p.m.
           Saturday; 9 a.m. - 3 p.m.           Saturday; 9 a.m. - 3 p.m.
            (until further notice)              (until further notice)

    Gloucester County                  Northumberland County
    Fire Station #3                    Old County Courthouse
    2676 Hayes Road                    72 Monument Place
    Hayes, VA 23072                   Heathsville, VA 22473
    Opens: Wednesday, Oct. 18;        Opens:   Wednesday, Oct. 18;
             from 10 a.m. - 7 p.m.               from 10 a.m. - 7 p.m.
    Hours: Monday-Friday;             Hours:   Monday-Friday;
             10 a.m. - 7 p.m.                    10 a.m. - 7 p.m.
            Saturday; 9 a.m. - 3 p.m.           Saturday; 9 a.m.- 3 p.m.
             (until further notice)              (until further notice)

Ronald E. Bew, SBA's Virginia District Director, stresses that these "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 storm."

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. 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 from occurring in the future.

For small businesses only, 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.

Individuals and businesses unable to visit SBA in person may obtain information and loan applications by calling toll-free (800) 659-2955. Hearing impaired individuals may call (800) 877-8339.

The filing deadline to return applications for property damage is December 15, 2006. The deadline to return economic injury applications is July 16, 2007.

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