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SBA Adds Four Counties to New Jersey Declaration; Deadline to Apply for Physical Damage Disaster Loans is June 1

Business Wire, May 14, 2010

ATLANTA — The U.S. Small Business Administration announces today that Cumberland,
Gloucester, Hunterdon and Ocean counties have been added to the
disaster declaration for Private Non-Profit Organizations (PNPs) that do
not provide critical services of a governmental nature. The deadline to
submit disaster loan applications is June 1 for damages caused by
severe storms and flooding that occurred on March 12 through April 15,
2010.

Non-Profit Organizations located in Atlantic, Bergen, Cape May, Cumberland,
Essex, Gloucester, Hunterdon, Mercer, Middlesex, Monmouth,
Morris, Ocean, Passaic and Somerset counties in New Jersey are
eligible for both Physical and Economic Injury Disaster Loans from the
SBA. Examples of eligible non-critical PNP organizations include, but
are not limited to, food kitchens, homeless shelters, museums,
libraries, community centers, schools and colleges.

PNPs may borrow up to $2million to repair or replace damaged or
destroyed real estate, machinery and equipment, inventory and other
business assets. The SBA may increase a loan up to 20 percent of the
total amount of disaster damage to real estate and/or leasehold
improvements, as verified by SBA, to make improvements that lessen the
risk of property damage by future disasters of the same kind.

The SBA offers Economic Injury Disaster Loans to PNPs of all sizes to
help meet working capital needs, such as ongoing operating expenses.
Economic Injury Disaster Loan assistance is available regardless of
whether the PNP suffered any physical property damage.

Interest rates are as low as 3 percent with terms up to 30 years. The
SBA sets loan amounts and terms based on each applicants financial
condition.

Interested PNPs may obtain disaster loan information and application
forms by calling the SBAs Customer Service Center at 800-659-2955
(800-877-8339 for people with speech or hearing disabilities) Monday
through Friday from 8 a.m. to 6 p.m.; Saturday and Sunday, 9 a.m. to
5:30 p.m. EDT or by sending an email to disastercustomerservice@sba.gov.
Applications can also be downloaded from www.sba.gov/services/disasterassistance.
Completed applications should be mailed to: U.S
bergen county