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Pinellas businesses may be eligible for low-interest loans

Pinellas County, FL (April 2011) – The Small Business Administration (SBA) has issued a disaster loan declaration for Pinellas, Hardee, Hillsborough, Manatee, Pasco and Polk counties based on the impact of the March 31 tornado outbreak. This clears the way for low-interest federal loans to affected business owners.

Under this declaration, qualified businesses may be eligible for business disaster loans to repair or replace disaster-damaged real estate or property.  SBA can also lend additional funds to businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future. Importantly, this declaration also makes available the SBA’s Economic Injury Disaster Loan program to eligible small businesses and most private, non-profit organizations of any size to help meet working capital needs caused by the disaster.

Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Loan applications for physical damage can be filed until the close of business on June 6, 2011, and economic injury applications can be filed until the close of business on January 9, 2012.

A Pinellas County SBA Disaster Loan Office will be established at Largo’s Southwest Recreation Complex at 13120 Vonn Road.  This center will be open Tuesday, April 12, through Saturday, April 16, from 10 a.m. to 7 p.m. daily.  The SBA recommends reviewing the application, forms and documentation necessary to apply for a disaster loan before arriving at the office. Businesses can find this information at: http://www.sba.gov/content/fact-sheet-businesses-all-sizes.

Pinellas County businesses with questions regarding SBA Disaster Loans or the process for filing loans, should contact the Small Business Development Center at Pinellas County at (727) 453-7200.  Pinellas County Economic Development will post information regarding this program at http://www.pced.org/disaster.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at (800) 659-2955, by emailing disastercustomerservice@sba.gov.

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Pinellas County Economic Development staff members are ready to help your business succeed.
Contact us at (727) 464-7332, or visit us on the web at www.pced.org, to learn more.