SBA Declares Fulton County a Disaster Area:
Atlanta Area Residents and Businesses Affected by Flood Eligible for SBA Assistance

ATLANTA -- At 2:00 pm today, the City of Atlanta was informed that the U.S. Small Business Administration has declared Fulton County a disaster area. Homeowners, renters, landlords and business owners affected by the September 21 - 22, 2002 heavy rains and localized flooding are now eligible to apply for low-interest disaster loan assistance from SBA.

Mayor Shirley Franklin says, “We welcome the SBA as partners in assisting with the restoration of the neighborhoods which were devastated during the recent heavy rains and floods in Atlanta and the surrounding counties.” 

SBA Disaster Area Director Michael Allen announced today that the SBA is opening a disaster loan assistance office at the Mt. Gilead Baptist Church, 561 Spencer Street in Northwest Atlanta. Beginning Friday October 4^th, the SBA office will be open from 9 am to 4 pm Monday through Saturday until further notice.

SBA assistance is available to anyone who had any damage from the heavy rains and localized flooding, regardless of whether they had insurance, located in Fulton County and the contiguous counties Carroll, Cherokee, Clayton, Cobb, Coweta, DeKalb, Douglas, Fayette, Forsyth and Gwinnett. SBA offers loans of up to $200,000 to repair disaster-damaged homes. Homeowners and renters are eligible for up to $40,000 to replace personal property. Loans to businesses and to non-profit organizations, including churches and universities, of up to $1.5 million are also available to repair damage to real estate, machinery and equipment, inventory, etc. and leasehold improvements. Economic Injury Disaster Loans (EIDL) also may be made to small businesses unable to pay bills and meet expenses because of this disaster. Interest rates can be as low as 3.312 % for homeowners and renters and 3.5% for businesses with terms up to 30 years. Actual amounts and terms are set by SBA on an individualized basis.

For further information, please visit the SBA Disaster Assistance Office, Mt. Gilead Baptist Church, 561 Spencer Street, or call SBA at 404-347-3771, or go to the website www.sba.gov