[Code of Federal Regulations]

[Title 13, Volume 1]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 13CFR123.200]



[Page 350]

 

                TITLE 13--BUSINESS CREDIT AND ASSISTANCE

 

                CHAPTER I--SMALL BUSINESS ADMINISTRATION

 

PART 123_DISASTER LOAN PROGRAM--Table of Contents

 

               Subpart C_Physical Disaster Business Loans

 

Sec. 123.200  Am I eligible to apply for a physical disaster business 

loan?





    (a) Almost any business concern or charitable or other non-profit 

entity whose real or tangible personal property is damaged in a declared 

disaster area is eligible to apply for a physical disaster business 

loan. Your business may be a sole proprietorship, partnership, 

corporation, limited liability company, or other legal entity recognized 

under State law. Your business' size (average annual receipts or number 

of employees) is not taken into consideration in determining your 

eligibility for a physical disaster business loan. If your damaged 

business occupied rented space at the time of the disaster, and the 

terms of your business' lease require you to make repairs to your 

business' building, you may have suffered a physical loss and can apply 

for a physical business disaster loan to repair the property. In all 

other cases, the owner of the building is the eligible loan applicant.

    (b) Damaged vehicles, of the type normally used for recreational 

purposes, such as motorhomes, aircraft, and boats, may be repaired or 

replaced with SBA loan proceeds if you can submit evidence that the 

damaged vehicles were used in your business at the time of the disaster.