Help Available to Tennessee Small Businesses With SBA Disaster Business Loan Applications

ATLANTA, March 7 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announces today that small businesses impacted by the severe storms and tornadoes on February 5 -- 6, 2008, can get one-on-one assistance from the Tennessee Small Business Development Centers (SBDCs) in completing their disaster business loan applications.

"We consider it important to have partners such as the Tennessee SBDC to assist area business owners with completing their SBA disaster business loan applications. Providing individual help is an important part of what we do to assist victims recover from a disaster," said Frank Skaggs, Director of SBA Field Operations Center East.

Eligible small businesses may qualify for loans up to $1.5 million. Interest rates are available at 4 percent with loan terms up to 30 years. SBA determines eligibility for the loans based on the size and type of the business and its financial resources. Loan amounts and terms are set by SBA and based upon applicant's financial condition.

"Tennessee SBDC's certified business counselors are experienced in helping business owners with their business loan applications," said Tennessee SBDC State Director, Patrick Geho, "Our staff is always ready to help Tennessee business owners in getting the needed assistance."

The Centers are open 8 a.m. to 4:30 p.m. Monday through Friday; small business owners should make an appointment prior to visiting one of the Centers below:

Jackson State Community College
197 Auditorium Street
Jackson, Tennessee 38301
Phone: (731) 424-5389

Southwest Tennessee Community College
Building C Room 202
737 Union Avenue
Memphis, TN 38103
Phone: (901) 333-5086

Memphis Renaissance Center/
Satellite Office of University of Memphis
Business Information Center
555 Beale Street
Memphis, Tennessee 38103
Phone: (901) 526-9300

Middle Tennessee State University
Rutherford County Chamber of Commerce Bldg.
501 Memorial Blvd.
Murfreesboro, Tennessee 37129
Phone:: (615) 898-2745

Tennessee State University
College of Business
330 10th Avenue, North
Nashville, Tennessee 37203-3401
Phone: (615) 963-7179

Volunteer State Community College
1480 Nashville Pike
Gibson Hall 114
Gallatin, TN 37066
Phone: 615-230-4780

Anyone unable to visit the Centers may obtain an application by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m., and Saturday and Sunday 9 a.m. to 5 p.m. EST. Business loan applications can also be downloaded from the SBA 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 application deadline for physical damage is April 7, 2008; the deadline for economic injury applications is November 7, 2008.

For more information about the SBA's Disaster Loan Programs, visit www.sba.gov.

First Call Analyst:
FCMN Contact:

Source: U.S. Small Business Administration

CONTACT: Michael Lampton of the U.S. Small Business Administration,
+1-404-347-3771; or Patrick Geho of the Tennessee Small Business Development
Centers, +1-615-849-9999

Web Site: http://www.sba.gov/

2008-03-07 17:24:51 0307534 PRNEWSWIRE