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MEMA: Storm victims can apply for disaster loans

December 9, 2010

From Staff and Wire Reports

PEARL — Mississippi Emergency Management Agency Director Mike Womack says victims of severe weather late last month will be eligible to apply for federal disaster loans.
Womack on Wednesday announced the disaster declaration by the U.S. Small Business Administration. He says the declaration is for Monroe and Oktibbeha counties and the nine contiguous counties of Chickasaw, Choctaw, Clay, Itawamba, Lee, Lowndes, Noxubee, Webster and Winston.
Womack says the areas were affected by the severe storms on Nov. 29-30. Overnight on Nov. 29, an EF-2 tornado tore through portions of Starkville, leaving the worst damage behind in The Pines mobile home park off Louisville Street.
Womack says in a news release a disaster outreach loan center will be located at the Becker Community Center in Amory. He says another loan center will be at the Courthouse Annex Building on Main Street in Starkville. Both centers open Friday.
The Starkville center will be located in Courtroom B at 108 W. Main St. and open from 8 a.m. to 5 p.m. Monday through Friday.
People will also be able to make applications 7 a.m. to 5 p.m. Monday through Friday at (800) 659-2955 or (800) 877-8339 for the hearing impaired, or by visiting the SBA’s website at http://www.sba.gov/.
Applicants have until Feb. 7 to submit loan applications to the U.S. Small Business Administration Processing and Disbursement Center at 14925 Kingsport Road, Fort Worth, TX 76155.
SBA helps homeowners, renters, nonprofit organizations and businesses. Rates on SBA disaster loans will be as low as 2.25 percent for homeowners and renters, 3 percent for nonprofits and 4 percent for businesses. Residents and businesses do not have to wait until insurance claims are settled to apply, MEMA officials said in a statement.
SBA offers disaster loans up to $200,000 to repair disaster damaged primary residences and up to $40,000 to repair or replace damaged personal property such as furniture and clothing.
Businesses of any size and private non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

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