SBA Offers Disaster Loans to Blunt Sept. 11 Impact

On Oct. 22, the U.S. Small Business Administration expanded its Economic Injury Disaster Loan program to include businesses across the country that were directly impacted by the terrorist attacks of Sept. 11. The SBA initiated the program Sept. 12 for affected businesses within New York City and Washington, D.C.

Business owners who can trace a significant loss of income directly to the attacks or to the government’s reaction — including grounding all flights — may apply for loans up to $1.5 million. The loans offer 4 percent interest, and terms may be extended up to 30 years.

Fort Worth Disaster Office representative Michael Lampton said the loans are intended to recover lost payments for long-term debt, increase working capital and help return businesses to normal operations.

Lampton said 47 Arkansas businesses had requested applications, with 20 of those being in Northwest Arkansas.