Do Not Wait for Insurance Settlement; SBA Urges Return of Applications - Deadline to Apply August 19

Homeowners, renters, non-profit organizations and businesses of all sizes in the following counties are eligible to apply for physical disaster assistance:Barbour,Clay,Doddridge,Gilmer,Harrison,Jackson,Jefferson,Marion,Taylor,Tucker,Tyler andWetzel Counties in theState of West Virginia.

"Returning a completed SBA disaster loan application is an important step in the disaster recovery process," said Frank Skaggs, Director of SBA Field Operations Center East. "If you received an SBA loan application, you cannot be referred to FEMA for possible further grant assistance unless you complete and return the application to the SBA."

Disaster victims with insurance should not wait for a settlement before applying to the SBA. If a victim does not know how much of their loss will be covered by insurance or other sources, the SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their SBA loan.

To be considered for all forms of disaster assistance victims must first register with the Federal Emergency Management Agency (FEMA) by calling 1-800-621-FEMA (3362) or visit one of the Centers at:

    Gilmer County                         Harrison County
    Gilmer County High School             Big Elm Elementary School
    300 Pine Street                       US Route 19
    Glenville, WV 26351                   Shinnston, WV 26431
    Closes: Thursday, July 24 at close of business 5:30 p.m.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses, and private non-profit organizations of all sizes, 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 property damage.

Anyone unable to visit one of the Centers may obtain applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Friday from 8 a.m. until 9 p.m., and Saturday and Sunday, 9 a.m. to 6 p.m. EDT or by emailing the Customer Service Center at disastercustomerservice@sba.gov. Business loan applications can be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road,Fort Worth, TX 76155.

The deadline for physical loan applications is August 19, 2008; the deadline for economic injury applications is March 17, 2009.

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

SOURCE U.S. Small Business Administration

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