Congressman Henry Cuellar Announces Disaster Assistance Available for Small Businesses

CONGRESSMAN HENRY CUELLAR ANNOUNCES DISASTER ASSISTANCE AVAILABLE FOR SMALL BUSINESSES

Washington, DC- Congressman Henry Cuellar announced today that Atascosa, Guadalupe, La Salle, Webb, Wilson, and Zapata Counties have officially been declared disaster areas due to damage caused by adverse weather conditions such as drought and excessive heat which occurred recently. As a result of this official action, low-interest Federal disaster loans are now available to small businesses in the affected counties. These loans are designed to aid small, non-farm businesses who suffered economic losses because of reduced revenues due to the impact of the weather.

According to SBA's Disaster Fields Operation Center Director Alfred E. Judd, "Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4%, a maximum term of 30 years, and are restricted to small businesses without the financial ability to offset the adverse impact without hardship."

Congressman Henry Cuellar noted, "Small businesses are critical to the American economy and it is important to extend every resource available to help them grow and prosper."

"These loans are critical to help small businesses to get back on their feet from economic losses they've endured due to unforeseen natural weather conditions. I encourage every small business owner in these counties to seek out this valuable assistance," Congressman Cuellar continued.

http://www.house.gov/apps/list/press/tx28_cuellar/060407.html