Businesses eligible for ice-storm recovery SBA loans

The declaration covers 22 counties, including Greene, Christian, Dallas, Polk and Webster. It also covers three Illinois counties and two Kansas counties, as well as the city of St. Louis.

The Economic Injury Disaster assistance program offers working capital loans of up to $1.5 million at an interest rate of 4 percent with terms up to 30 years.

“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact,” said Alfred E. Judd, director of SBA’s Disaster Field Operations Center, in a news release. “These loans can provide vital economic assistance to small business affected by the severe winter storms and flooding to help cover the temporary loss of revenue they are experiencing.”

The deadline to apply for loans is Feb. 8, 2008.

“I know many Missourians are still dealing with the aftermath left from the deadly winter storms,” said Missouri Gov. Matt Blunt, in a separate news release. “I am pleased the Small Business Administration will offer assistance to our businesses as they continue to put their lives back together.”

According to the SBA’s fact sheet on economic injury disaster loans, the loans are limited by law to $1.5 million. Applicants must show the ability to repay the loans, with terms that vary based on the financial circumstances of the individual borrower.

SBA customer service representatives will be at SBA’s Disaster Loan Outreach Centers to issue loan applications and answer questions.

SBA representatives also will be on hand at chambers of commerce around the state to work with business owners on obtaining loans:

• Springfield Area Chamber of Commerce, 202 S. John Q. Hammons Parkway, 9 a.m.–1 p.m. May 23 and 30;

• Aurora Chamber of Commerce, 121 E. Olive St., 9 a.m.–1 p.m. May 22 and 29;

• Lebanon Chamber of Commerce, 186 N. Adams Ave., 9 a.m.–1 p.m. May 24; and

• Florissant Valley Chamber of Commerce, 420 W. Washington St., 9 a.m.–1 p.m., May 22, 24, 29 and 31.

Affected business owners who are unable to meet with SBA representatives at those times can call (916) 847-2612 to schedule an appointment at their businesses. More information also is available at www.sba.gov/services/disasterassistance.