[Federal Register Volume 66, Number 163 (Wednesday, August 22, 2001)]
[Notices]
[Pages 44197-44198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-21201]


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SMALL BUSINESS ADMINISTRATION


Declaration of Military Reservist Economic Injury Disaster Loan 
#R101

    As a result of Public Law 106-50, the Veterans Entrepreneurship and 
Small Business Development Act of 1999, this notice establishes the 
application filing period for the Military Reservist Economic Injury 
Disaster Loan program. Effective August 24, 2001, small businesses 
employing military reservists may apply for economic injury disaster

[[Page 44198]]

loans if those employees are called up to active duty during a period 
of military conflict existing on or after March 24, 1999 and those 
employees are essential to the success of the small business daily 
operations. Since this program applies to military conflicts existing 
on or after March 24, 1999, small businesses that meet all other 
eligibility criteria will have until November 26, 2001 to apply. 
Otherwise the filing period for small businesses to apply for economic 
injury loan assistance under the Military Reservist Economic Injury 
Disaster Loan Program begins on the date the essential employee is 
ordered to active duty and ends on the date 90 days after the essential 
employee is discharged or released from active duty.
    The purpose of the Military Reservist Economic Injury Disaster Loan 
Program (MREIDL) is to provide funds to eligible small businesses to 
meet its ordinary and necessary operating expenses that it could have 
met, but is unable to meet, because an essential employee was called-up 
to active duty in their role as a military reservist. These loans are 
intended only to provide the amount of working capital needed by a 
small business to pay its necessary obligations as they mature until 
operations return to normal after the essential employee is released 
from active military duty.
    Applications for loans for military reservist economic injury loans 
may be obtained and filed at the address listed below: U.S. Small 
Business Administration, Disaster Area 1 Office, 360 Rainbow Blvd., 
South 3rd Fl., Niagara Falls, NY 14303, 1-800-659-2955.
    The interest rate for eligible small businesses is 4 percent. The 
number assigned for economic injury is R10100.

(Catalog of Federal Domestic Assistance Program No. 59002.)

    Dated: August 16, 2001.
Herbert L. Mitchell,
Associate Administrator For Disaster Assistance.
[FR Doc. 01-21201 Filed 8-21-01; 8:45 am]
BILLING CODE 8025-01-P