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Updated: 8:55 a.m. Friday, Oct. 15, 2010 | Posted: 8:54 a.m. Friday, Oct. 15, 2010

SBA offers low-interest disaster recovery loans

Staff Report

The U.S. Small Business Administration is offering disaster loans to small businesses, agricultural cooperatives and private nonprofit organizations that suffered economic losses as a result of extreme weather conditions in Ohio between April 1 and Aug. 3.

The SBA’s disaster declaration includes Auglaize, Champaign, Clark, Clinton, Miami, Montgomery and Warren counties. The loans would be for organizations that sustained losses due to excessive rain, flooding, high winds, hail, tornadoes, drought, freeze or frost.

The loan amount can be up to $2 million with a 3 percent interest rate for nonprofit organizations and 4 percent for small businesses, the SBA said in a news release.

Disaster loan information and application forms may be obtained by calling the SBA at 800-659-2955 Mondays through Fridays between 8 a.m. and 6 p.m., or by sending an e-mail to disastercustomerservice@sba.gov.

Completed loan applications must be returned to the SBA no later than May 31, 2011. The applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Rd., Fort Worth, TX 76155.

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