SBA's Deadline to Apply For Physical Damage Disaster Loans is July 7

ATLANTA, June 6 /PRNewswire-USNewswire/ -- The U.S. Small Business
Administration reminds homeowners, renters, non-profit organizations and
businesses of the deadline to submit disaster loan applications for damage
caused by the severe storms and flooding March 18-20, 2008. The deadline to
file an application for physical damage is July 7, 2008.

Homeowners, renters, non-profit organizations and businesses in the primary
counties of Orange, Pike, Scott, Vanderburgh and Washington and the adjacent
counties of Clark, Crawford, Daviess, Dubois, Floyd, Gibson, Harrison,
Jackson, Jefferson, Jennings, Knox, Lawrence, Martin, Posey and Warrick in the
State of Indiana and adjacent Henderson County in the Commonwealth of Kentucky
are eligible to apply to SBA.

SBA offers loans up to $200,000 to repair disaster damaged primary residences.
Homeowners and renters are eligible for loans up to $40,000 to replace
personal property such as furniture, appliances and clothing. Loans to
businesses of all sizes and non-profit organizations are available up to $1.5
million to repair damage to real estate, machinery, inventory and equipment.
Economic Injury Disaster Loans (EIDLs) are also available to small businesses
unable to pay bills or meet operating expenses because of the disaster.

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 SBA and are based upon each applicant's financial condition.

Additionally, disaster victims with insurance should not wait for an insurance
settlement before applying to SBA. If victims do not know how much of their
loss will be covered by insurance or other sources, 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.

SBA also offers mitigation funds to disaster victims who have approved
physical loans. SBA's mitigation funds are designed to help borrowers fund
protective measures which may prevent damages of the same kind in the future.
To help fund these protective measures, borrowers may request an additional 20
percent of their approved loan amount.

Disaster victims may obtain an application 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. to 8 p.m. EDT, or by emailing our customer
service center at disastercustomerservice@sba.gov. Business loan applications
can also be downloaded from the SBA website at www.sba.gov. Completed
applications should be mailed to: U.S. Small Business Administration,
Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX.
76155.

The filing deadline to return applications for physical damage is July 7,
2008. The deadline to return economic injury applications is February 5,
2009.

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

SOURCE U.S. Small Business Administration

Mark Ihenacho of the SBA, +1-404-331-0333