New Program To Help Small Businesses Avoid Disaster Losses
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A new low-interest loan program designed to help small businesses protect against disaster has been signed into law.
The new program, called the Pre-Disaster Mitigation Pilot Program, authorizes the SBA to make low-interest loans of up to $50,000 to help small businesses in disaster-prone communities protect their property from disaster damage. It will go into effect in October 1999 and is being operated in conjunction with the Federal Emergency Management Agency's Project Impact program.
Details about the new program are available by contacting James Rivera in the SBA's Office of Disaster Assistance at 202-205-6734.