SBA’s Deadline for Physical Damage Disaster Loan Applications in Maryland is February 7

ATLANTA--(BUSINESS WIRE)--The U.S. Small Business Administration reminds homeowners, renters, businesses and non-profit organizations located in Maryland of the deadline to submit disaster loan applications for damage caused by the severe storms and a tornado that occurred on Nov. 17, 2010. The deadline to file an SBA disaster loan application for physical damage is Feb. 7, 2011.

Disaster loans are available to homeowners, renters, non-profit organizations and businesses of all sizes in the Independent City of Baltimore and the adjacent counties of Anne Arundel and Baltimore in Maryland.

Additionally, anyone with insured losses should not wait for an insurance settlement before applying to the SBA. If they do not know how much of their loss is covered by insurance or other sources, the SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their SBA loan.

The SBA offers low interest disaster loans to disaster victims for physical losses. Approved loans can be increased for protective measures to lessen similar future damages. Additionally, small businesses and most private nonprofit organizations may obtain disaster loans for unmet working capital needs.

For additional information, call the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. until 6 p.m. ET or send an e-mail to [e-mail]. Loan applications can be downloaded from the SBA’s website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical damage is February 7, 2011. The deadline to return economic injury applications is September 9, 2011.

For more information about the SBA’s Disaster Loan Programs, visit our website at www.sba.gov.

Release Number: 11-219, MD 12411/12412