Residents and businesses in Alabama who were affected by the powerful tornadoes and storms on May 11, 2008 are able to apply for low interest disaster loans from the U.S. Small Business Administration. Governor Riley asked that a disaster declaration be made for Cleburn, Calhoun, Cherokee, Clay, Randolph and Talledega. In Georgia, the counties of Carroll, Haralson and Polk will also receive help.
Those parties interested in applying for federal help should report to the Parks and Recreation in the City of Heflin. Representatives will be available to provide assistance on May 20th through May 30th at 2:00 p.m.
Only small businesses may apply for the Economic Injury Disaster Loans (EIDL). Small businesses do not need to have suffered property damage in order to apply for this type of assistance.
Low interest loans are available to renters, homeowners and businesses of all sizes. Non profit organization may also apply for assistance if their property was damaged or destroyed by the severe weather. Businesses who suffered damage may borrow up to $1.5 million to help make needed repairs or replace business assets. Interest rates and loan amounts are determined by the SBA depending on your needs.
Property damage applications will be accepted until July 14, 2008. Economic injury applications need to be filed by February 16, 2009. If you are unable to visit the Recreational Center, additional information and loan applications can be obtained by calling (800) 659-2955.
