Arkansas Delegation Announces Disaster Grant Applications

WASHINGTON, D.C. - Members of the Arkansas Delegation announced today that businesses in certain Arkansas counties are now eligible to apply for the Economic Injury Disaster Loans from the U.S. Small Business Administration (SBA).

Delegation members said the loan is designed for small businesses with substantial disaster-related needs who cannot meet their financial needs through other sources. The loans will cover normal operating expenses that were lost due to the effects of a disaster. Disasters include, but are not limited to, excessive rain, flash flooding, hail and tornadoes occurring between May 1-31, 2003.

Members of the delegation include Senators Blanche Lincoln (D-AR) and Mark Pryor (D-AR) and Congressmen Marion Berry (D-AR 1), Vic Snyder (D-AR 2), John Boozman (R-AR 3), and Mike Ross (D-AR 4).

Businesses in the following counties are eligible to apply for this loan:

Arkansas Ashley Baxter Bradley Chicot Clark Clay Cleburne Cleveland Columbia Conway Craighead Crittenden Cross Desha Drew

Faulkner Fulton Garland Grant Greene Hempstead Howard Independence Izard Jackson Jefferson Johnson Lafayette Lawrence Lee Lincoln

Little River Logan Lonoke Miller Mississippi Monroe Montgomery Nevada Newton Ouachita Perry Phillips Pike Poinsett Polk Pope

Prairie Pulaski Randolph St. Francis Saline Scott Searcy Sevier Sharp Stone Union Van Buren White Woodruff Yell

Loans may be approved for up to $1.5 million for actual disaster-related financial needs of the business. Interest rates are 2.953 percent and may extend to 30 years depending on the individual's payment ability. Businesses must be small by SBA standards.

For more information or to obtain an application, call toll free 1-800-366-6303 or TDD 817-267-4688 for the hearing impaired. The application deadline is June 10, 2004.

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