Congressman Kurt Schrader today announced the Small Business Administration (SBA) is offering low-interest federal disaster loans to residents and business owners in Clackamas, Marion, Polk and other Oregon counties affected by the severe January storms.

As of April 3, 2012, SBA representatives are on hand at the Marion County Disaster Loan Outreach Center to issue loan applications, answer questions about SBA's disaster loan program, explain the application process and help each individual complete their application.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Loans up to $40,000 are available for homeowners and renters to repair or replace destroyed personal property. Businesses of any size and private, nonprofit organizations are eligible to borrow up to $2 million to repair or replace damage or destroyed real estate, machinery and equipment, inventory and other business assets.

SBA is also offering Economic Injury Disaster Loans (EIDL) for small businesses, small agriculture cooperatives, small businesses engaged in aquaculture and most private, nonprofit organizations of any size to help meet working capital needs caused by the disaster. EIDLs are available regardless of whether the business suffered any property damage.

For more information regarding the Outreach Center's location and operating hours, disaster loan interest rates, disaster loan qualifications, application forms and filing deadlines, please see the attached U.S. Small Business Administration press release.