- Associated Press - Wednesday, April 16, 2014

JACKSON, Miss. (AP) - Southwest Mississippi residents and businesses affected by severe weather and flooding that occurred on March 28-29 can apply for low-interest disaster loans from the U.S. Small Business Administration.

SBA Administrator Maria Contreras-Sweet said Tuesday that the loans were made available in response to an April 8 letter from Mississippi Gov. Phil Bryant, requesting a disaster declaration by the SBA. The declaration covers Wilkinson County, and the adjacent counties of Adams, Amite, and Franklin in Mississippi; and Concordia, East Feliciana and West Feliciana parishes in Louisiana.

Contreras-Sweet said loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate and homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates are as low as 2.250 percent for homeowners and renters, 2.625 percent for nonprofit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela .

They also may visit the SBA’s Disaster Loan Outreach Center at Crosby Town Hall in Wilkinson County or call the customer service center at 1-800-659-2955. Loan applications can also be downloaded at www.sba.gov/disaster .

The filing deadline for physical property damage is June 13, while the deadline to return economic injury applications is Jan. 14, 2015.

Copyright © 2016 The Washington Times, LLC.

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