Maine flood victims offered federal help at disaster centers

WASHINGTON – The U.S. Small Business Administration is offering assistance to victims of the recent flooding in Maine.

Once local recovery centers are identified in the Aroostook County disaster area declared by President Bush, SBA officials will provide one-on-one assistance to disaster loan applicants. The Federal Emergency Management Agency and the SBA plan to open a Disaster Recovery Center in Fort Kent, Sen. Olympia Snowe’s office said.

Aroostook County is eligible for both Physical and Economic Injury Disaster Loans from the SBA, the agency said. The contiguous counties of Penobscot, Piscataquis, Somerset and Washington are eligible to apply only for SBA Economic Injury Disaster Loans.

Disaster loans 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.

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

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

To be considered for all forms of disaster assistance, victims are being asked to call FEMA at 800-621-3362. For the location of Disaster Recovery Centers and the loan application process, call the SBA Customer Service Center at 800-659-2955.

According to Snowe’s office, FEMA said residents and business owners who suffered losses in the designated counties also may apply for assistance by registering online at http://www.fema.gov.

The filing deadline to return applications for physical property damage is July 8, 2008. The deadline to return economic injury applications is Feb. 9, 2009.

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