SBA Offers Disaster Assistance to Connecticut Residents Affected by Severe Storms and Flooding

Steve Preston, Administrator of the U.S. Small Business Administration announced that low-interest disaster loans will be made available to Connecticut residents affected by the severe storms and flooding that occurred October 11, 2007.

Administrator Preston took this action following an October 19 letter from Connecticut Governor M. Jodi Rell requesting a disaster declaration by the SBA. The declaration covers the county of Fairfield and the adjacent counties of Litchfield and New Haven in the State of Connecticut and adjacent counties of Dutchess, Putnam and Westchester in the State of New York.

"We look forward to working with the State of Connecticut and the people affected by the storms and flooding to make SBA disaster loans available to homeowners, renters and businesses," said Administrator Preston.

Frank Skaggs, Director of Disaster Field Operations Center East said, "Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. The SBA's Customer Service Representatives will be on hand at the following Disaster Loan Outreach Centers to issue loan applications, answer questions about the SBA's disaster loan program, explain the application process and help individuals complete their application."

The Centers will be located in the following communities and will open as indicated:
SBA Disaster Loan Outreach Centers
Opens: Tuesday, October 30; 8 a.m.- 4:30 p.m.
Hours: Monday - Friday; 8 a.m. - 4:30 p.m.
Saturday; 9 a.m. - 1 p.m. (one Saturday only)
Closes: Thursday, November 8, at the close of the business day

Fairfield County
Darien Town Hall New Canaan Town Hall
2 Renshaw Road 77 Main Street
Darien, CT 06820 New Canaan, CT 06840

Stamford Government Center
888 Washington Blvd.
Stamford, CT 06901


Bernard M. Sweeney, SBA's Connecticut District Director stresses, "Low-interest Federal disaster loans are available to homeowners, renters, businesses of all sizes and private, non-profit organizations whose property was damaged or destroyed by the storms."

Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses only, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

Individuals and businesses unable to visit the Centers in person may obtain information and loan applications by calling tollfree (800) 659-2955. Hearing impaired individuals may call (800) 8778339.

The filing deadline to return applications for physical property damage is December 24, 2007. The deadline to return economic injury applications is July 25, 2008.

For more information about the SBA's Disaster Loan Programs, visit our website at http://www.sba.gov/services/disasterassistance.