SBA OFFICE TO OPEN

The U.S. Small Business Administration will open a temporary office at noon Monday at the Salvation Army building at 701 Good Hope to help disaster victims with low-interest federal loans.

The office will be open the rest of the week. from 9 a.m. to 6 p.m., including Saturday, July 1.

Loans will be available to homeowners, renters and business owners in the counties President Clinton declared disaster areas.

On Friday, the president added six Missouri counties to the list for individual assistance: New Madrid, Morgan, McDonald, Maries, Jasper and Camden.

SBA representatives will be at the office to issue applications and provide one-on-one assistance in filling out the forms.

To apply for a loan, victims must have registered with the Federal Emergency Management Agency by calling 1-800-462-9029.

Loans of up to $200,000 are available to repair damaged homes. Homeowners and renters are also eligible for up to $40,000 to replace personal property like furniture and clothing.

Loans to businesses and non-profit organizations of up to $1.5 million are available to repair damage to real estate, machinery and equipment and inventory.

Other loans are also available to small businesses unable to pay bills or meet operating expenses because of the disaster. Interest rates can be as low as 4 percent with terms extending to 30 years.