SBA Makes Low Interest Disaster Loans Available for Severe Storms and Tornadoes Victims

SBA Makes Low Interest Disaster Loans Available for Severe Storms and
Tornadoes Victims

WASHINGTON, April 17 /PRNewswire-USNewswire/ -- Low-interest disaster loans
will be made available by the U.S. Small Business Administration to
Mississippi residents and businesses affected by the severe storms and
tornadoes April 4, 2008, SBA Administrator Steve Preston announced today.

Administrator Preston took this action following a letter April 9 from
Mississippi Governor Haley Barbour requesting a disaster declaration by the
SBA. The declaration covers the counties of Newton, Rankin, Scott and Warren
and adjacent counties of Claiborne, Clarke, Copiah, Hinds, Issaquena, Jasper,
Kemper, Lauderdale, Leake, Madison, Neshoba, Simpson, Smith and Yazoo in the
State of Mississippi; and the parishes of East Carroll, Madison and Tensas in
the State of Louisiana.

"We look forward to working with residents of Mississippi affected by the
storms and tornadoes to make SBA disaster loans available to homeowners,
renters and businesses," said Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said,
"Residents, both homeowners and renters, are eligible for loans up to $40,000
to repair or replace damaged or destroyed personal property. Loans up to
$200,000 are available to homeowners to repair or replace damaged or destroyed
real estate. The SBA's Customer Service Representatives will be on hand at
the Disaster Loan Outreach Centers to issue loan applications, answer
questions about the 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 as
indicated:

NEWTON COUNTY
Newton County Election Committee
77 Seventh Street
Decatur, MS 39327
Opens: Friday, April 18 at 8 a.m.
8 a.m. to 5 p.m. Monday - Friday
9 a.m. to 1 p.m. Saturday, April 26, 2008
(one Saturday only)
Closes: Thursday, May 1, at the close of business

RANKIN COUNTY
Rankin County Emergency Operations
601 Marquette Road
Brandon, MS 39042
Opens: Friday, April 18 at 8 a.m.
8 a.m. to 5 p.m. Monday - Friday
9 a.m. to 1 p.m. Saturday, April 26, 2008
(one Saturday only)
Closes: Thursday, May 1, at the close of business

SCOTT COUNTY
Scott County Courthouse
100 E. Main Street
Forest, MS 39074
Opens: Friday, April 18 at 8 a.m.
Hours: 8 a.m. to 5 p.m. Monday - Friday
9 a.m. to 1 p.m. Saturday, April 26, 2008
(one Saturday only)
Closes: Thursday, May 1, at the close of business

WARREN COUNTY
Warren County Courthouse
1009 Cherry Street
Vicksburg, MS 39183
Opens: Friday, April 18 at 8 a.m.
Hours: 8 a.m. to 5 p.m. Monday - Friday
9 a.m. to 1 p.m. Saturday, April 26, 2008
(one Saturday only)
Closes: Thursday, May 1, at the close of business

Janita Stewart, SBA's Mississippi District Director stresses, "Low-interest
Federal disaster loans are available to renters, homeowners, businesses of all
sizes and private non-profit organizations whose property was damaged or
destroyed by the severe storms and tornadoes."

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. The 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 in the future.

For small businesses only, 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 physical property damage.

Interest rates are as low as 2.750 percent for homeowners and renters, and
4.000 percent for businesses with terms up to 30 years. Loan amounts and
terms are set by the SBA and are based upon each applicant's financial
condition.

Individuals and businesses unable to visit the Centers in person may obtain
information and loan applications by calling tollfree (800) 659-2955. Hearing
impaired individuals may call (800) 8778339.

The filing deadline to return applications for physical property damage is
June 16, 2008. The deadline to return economic injury applications is January
16, 2009.

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

SOURCE U.S. Small Business Administration

Michael Lampton of SBA, +1-404-331-0333