A deadline to apply for Small Business Administration federal disaster loans is less than one month away for Leavenworth County businesses and residents.

A deadline to apply for Small Business Administration federal disaster loans is less than one month away for Leavenworth County businesses and residents.

The loans will help pay to repair or replace property damaged by severe storms that produced a tornado May 28 in southern Leavenworth County. The deadline to apply is Aug. 13, according to a news release from SBA.

Businesses of all sizes, most private nonprofit organizations, homeowners and renters may apply for SBA federal disaster loans. SBA also can lend additional funds to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

These low-interest federal disaster loans are available in Leavenworth, Douglas, Jefferson, Franklin, Johnson, Miami, Osage and Shawnee counties.

Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. In addition, SBA offers Economic Injury Disaster Loans to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an SBA economic injury disaster loan is March 16.
Disaster loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 4% for businesses, 2.75% for private nonprofit organizations and 1.938% for homeowners and renters with terms of up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online, receive additional disaster assistance information and download applications at www.disasterloan.sba.gov/ela

Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call 800-877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX, 76155.