SBA Offers Disaster Assistance to Massachusetts Residents Affected By the Fire in...

SBA Offers Disaster Assistance to Massachusetts Residents Affected By the Fire
in the Town of Peabody

WASHINGTON, June 6 /PRNewswire-USNewswire/ -- Massachusetts residents and
businesses affected by the fire in the town of Peabody on May 29, 2008 can
apply for low-interest disaster loans from the U.S. Small Business
Administration, SBA Deputy Administrator Jovita Carranza announced today.

Deputy Administrator Carranza took this action following a letter from
Massachusetts Governor Deval L. Patrick on June 3, requesting a disaster
declaration by the Small Business Administration. The declaration covers
Essex County and the adjacent counties of Middlesex and Suffolk in the
Commonwealth of Massachusetts and the counties of Hillsborough and Rockingham
in the State of New Hampshire.

"We look forward to working with residents of Massachusetts affected by the
fire to make SBA disaster loans available to renters, homeowners and
businesses to help them finance the rebuilding of their communities," said
Deputy Administrator Carranza.

Frank Skaggs, Director of Disaster Field Operations Center East said,
"Residents 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
Center to issue loan applications, answer questions about the SBA's disaster
loan program, explain the application process and help individuals complete
their application."

The Center will be located in the following community and will open as
indicated:

Robert H. Nelson, SBA's Massachusetts District Director stresses,
"Low-interest Federal disaster loans are available to homeowners, renters,
businesses of all sizes and private, non-profit organizations whose property
was damaged or destroyed by the fire."

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 from occurring in the
future.

Essex County
Torigian Community Life Center
79 Central Street
Peabody, MA 01960
Opening: Tuesday, June 10, 2008
Hours: Tuesday, June 10 - Friday, June 13 from 8:00 am to 4:00 pm
Saturday, June 14, 2008 from 9:00 am to 1:00 pm (one Saturday only)
Close: Sunday, June 15, 2008
Open: Monday, June 16 - Thursday, June 19 from 8:00 am to 4:00 pm
Closing: Thursday, June 19, 2008 at the close of business

For small businesses only, the SBA offers Economic Injury Disaster Loans to
help meet working capital needs caused by the disaster. Economic Injury
Disaster Loans assistance is available regardless of whether the business
suffered any physical property damage.

Interest rates are as low as 2.687 percent homeowners and renters, and 4
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 Center in person may obtain
information and loan applications by calling toll-free (800) 659-2955,
(hearing impaired individuals may call (800) 877-8339), or by emailing our
customer service center at disastercustomerservice@sba.gov.

The filing deadline to return applications for physical property damage is
August 5, 2008. The deadline to return economic injury applications is March
6, 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 U.S. Small Business Administration, +1-404-331-0333