SBA Disaster Loans Available Following Secretary of Agriculture Disaster Declaration in Mississippi

ATLANTA--(Business Wire)--
The U.S. Small Business Administration announces today that federal economic
injury disaster loans are available to small businesses, small agricultural
cooperatives and most private non-profit organizations of all sizes located in
the entire State of Mississippi as a result of the combined effects of spring
and fall flooding, and summer drought that began on March 1, 2009.

"When the Secretary of Agriculture issues a disaster declaration to help farmers
recover from damages and losses to crops, the Small Business Administration
issues a declaration to assist small businesses, small agricultural cooperatives
and most private non-profit organizations affected by the same disaster," said
Frank Skaggs, director of SBA`s Field Operations Center East.

Under this declaration, the SBA`s Economic Injury Disaster Loan program is
available to farm-related and nonfarm-related small business concerns, small
agricultural cooperatives and most private non-profit organizations of all sizes
that suffered financial losses as a direct result of this disaster. Farmers and
ranchers are not eligible to apply to SBA, but nurseries are eligible to apply
for economic injury disaster loans for losses caused by drought conditions.

Eligible small businesses and non-profit organizations may qualify for loans up
to $2 million. These loans are available at a 4 percent interest rate with loan
terms up to 30 years. The SBA determines eligibility based on the size of the
applicant, type of activity and its financial resources. Loan amounts and terms
are set by the SBA and are based on each applicant`s financial condition. Under
this disaster declaration, the SBA cannot provide loans to agricultural
producers.

Disaster victims should contact the SBA`s Customer Service Center by calling
1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday
from 8 a.m. to 9 p.m., EST or by sending an email to
disastercustomerservice@sba.gov. Loan applications can be downloaded from the
SBA`s Web site at www.sba.gov/services/disasterassistance. Completed
applications should be mailed to: U.S. Small Business Administration, Processing
and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Those affected by the disaster may apply for disaster loans from SBA`s secure
Web site at https://disasterloan.sba.gov/ela/.

Completed loan applications must be returned to SBA no later than July 13, 2010.

For more information about the SBA`s Disaster Loan Programs, visit our Web site
at www.sba.gov/services/disasterassistance.

Release Number: 10-091, MS 11936

U.S. Small Business Administration
Alana Chavez, 404-331-0333

Copyright Business Wire 2009