Welcome to the Eastern Kentucky University Small Business Development Center's e-newsletter. The EKU SBDC staff would like to take this opportunity to wish you "Happy Holidays!"
As always, we encourage you to contact us and let us know how we can help your small business. |
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 SBA Offers Disaster Assistance to Kentucky Residents Affected By Tornado and Severe Storms
Kentucky residents and businesses affected by tornado and severe storms that occurred on October 9 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Karen G. Mills announced today.
Administrator Mills made the loans available in response to a letter from Kentucky Gov. Stephen Beshear on October 26 requesting a disaster declaration by the SBA. The declaration covers Casey County and the adjacent counties of Adair, Boyle, Lincoln, Marion, Pulaski, Russell and Taylor in the Commonwealth of Kentucky.
"The SBA is strongly committed to providing the people of Kentucky with the most effective and customer-focused response possible to assist homeowners, renters, and businesses of all sizes with federal disaster loans," said Administrator Mills. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."
"Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property," said Frank Skaggs, Director of SBA's Disaster Field Operations Center in Atlanta. SBA's customer service representatives will be on hand at the Disaster Loan Outreach Center to issue loan applications, answer questions about the SBA's disaster loan program, explain the application process and help individuals complete their applications.
The Center will be located in the following community and will open as indicated:
Casey County
Old Casey County Courthouse
625 Campbellsville Street
Liberty, KY 42539
Opens: Tuesday, November 3, 2009
Hours: 8 a.m. to 4:30 p.m., Tuesday, November 3 through Thursday, November 12
Open: 9 a.m. to 12 Noon, Saturday, November 7
Closed: Sunday, November 8 and Wednesday, November 11 in observance of Veterans Day
Closing: Thursday, November 12, 2009 at the close of business
"Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets," said Steven Ayers, SBA's Kentucky District Director.
The SBA also provides mitigation funds to disaster survivors up to 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures to minimize damages of the same kind in the future.
For small businesses and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 2.750 percent for homeowners and renters, and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.
Individuals and businesses unable to visit the Center in person may obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 9 p.m. EDT, or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance.Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Survivors may apply for disaster loans from SBA's secure Web site at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is December 28, 2009. The deadline to return economic injury applications is July 29, 2010. |
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The Small Business Development Center at Eastern Kentucky University is strengthening Kentucky's small business community by providing planning, consulting and training services to new ventures and existing businesses.
The Benefits:
- Increase profits through aggressive business strategies
- Expand client volume through targeted marketing
- Grow sales through vital network development
- Gain access to experts on funding sources and options
- Decrease risk due to extensive research and analysis
- Save time collecting and compiling resources
We are a premier provider of business services that empower entrepreneurs with practical information, skills and strategies to make a measurable, positive impact on the performance of their businesses, and, by extension, on the communities those businesses serve.
As always, if there is anything that our office can do for you or your business, please contact us at 1-877-EKU-SBDC or by visiting our website at www.ekubiz.com. |
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UPCOMING WORKSHOPS... ________________
Developing Your Idea Into a Business Plan
This workshop will introduce the basics of the process of developing a business plan including: What is a business plan?, What are the components of a business plan?, What lenders want in a business plan?, and Why a business plan is important?
Date: 12/1/09
Time: 4:45-5:45 PM
Location: EKU Business & Technology Center
BTC 049 Richmond, KY 40475
To register online
International Trade
The presentation will focus on the advantages of exporting, with a particular focus on the opportunities that the Mexico market offers; services available through the Kentucky Cabinet for Economic Development; details of NAFTA; and some of the most promising sectors in Mexico. Presenter for the event will be Jeanine Duncliffe, International Trade Specialist with the Kentucky Cabinet for Economic Development.
Date: 12/11/09
Time: 1:00-3:00 PM
Location: EKU Business &
Technology Center BTC 049
Richmond, KY 40475
To register online
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For additional info about these workshops, please feel free to call our office at 606.678.3042 |
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