Pinellas County, FL (April 8, 2011) – The Small Business Administration (SBA) has issued a disaster loan declaration for Pinellas, Hardee, Hillsborough, Manatee, Pasco and Polk counties based on the impact of the March 31 tornado outbreak. This clears the way for low-interest federal loans to affected business owners.
Under this declaration, qualified businesses may be eligible for business disaster loans to repair or replace disaster-damaged real estate or property. SBA can also lend additional funds to businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future. Importantly, this declaration also makes available the SBA’s Economic Injury Disaster Loan program to eligible small businesses and most private, non-profit organizations of any size to help meet working capital needs caused by the disaster.
Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Loan applications for physical damage can be filed until the close of business on June 6, 2011, and economic injury applications can be filed until the close of business on January 9, 2012.