"We have been working with the SBA to coordinate assistance," according to Acting Governor Donald DiFrancesco. "Through the SBA, eligible small businesses can apply for Economic Injury Loans to fund their operations and sustain themselves until recovery is a reality."
Under the program, qualifying businesses can get loans of up to $1.5 million at a 4% interest rate for up to 30 years. The program was expanded to a statewide basis in the wake of President George W. Bush's declaration of disaster status for the entire state. The Federal Emergency Management Agency (FEMA) is coordinating federal assistance efforts.
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