Jackson, Mississippi – The U.S. Small Business Administration has granted Governor Haley Barbour’s request for disaster recovery assistance covering residents and businesses in eight Mississippi counties affected by last week’s storms.
Included in the coverage is hard-hit Simpson County, where widespread damage resulted from a strong EF-3 tornado that struck in the early morning hours of March 26. Residents in counties contiguous to Simpson are also eligible to apply for SBA assistance, including Copiah, Jefferson Davis, Smith, Covington, Lawrence, Hinds and Rankin.
“I am grateful that the SBA acted very quickly on my request for this disaster recovery assistance and encourage residents to take advantage of the low-interest loans, as they can offer some much-needed relief,” Governor Barbour said.
Homeowners can apply for low-interest loans up to $200,000 to make repairs and all residents, homeowners or renters, can apply for low-interest loans up to $40,000 to replace personal property.
Qualified businesses and non-profit organizations that sustained damage are eligible for low-interest loans up to $2 million to make repairs. Small businesses may also qualify for economic injury disaster loans that provide necessary working capital until normal operations resume after a disaster.
The SBA will open a disaster outreach loan center Monday April 6 at 1 p.m. at:
Magee Civic Center
117 NW First Ave.
Magee, MS 39111
Open Monday through Friday 9 a.m.-6 p.m. and Saturday April 11, 9 a.m.-1 p.m.
The center will close April 14 at 6 p.m. Residents can also apply by phone (1-800-659-2955 or 1-800-877-8339 for the hearing impaired) or by visiting the SBA Web site at www.sba.gov.
Residents do not have to wait until insurance claims are settled to apply.
Interest rates will range from 2.187 percent to 4.375 for homeowners and renters, and from 4 to 6 percent for businesses and non-profit organizations.
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