[Federal Register Volume 66, Number 199 (Monday, October 15, 2001)]
[Notices]
[Page 52473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-25850]


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SMALL BUSINESS ADMINISTRATION


Declaration of Military Reservist Economic Injury Disaster Loan 
#R102

    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 October 1, 2001, small businesses 
employing military reservists may apply for economic injury disaster 
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. 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. However, 
if a military reservist, who is an essential employee, was ordered to 
active duty on or after March 24, 1999, because of a military conflict, 
and was released or discharged prior to the date of the publication of 
this notice in the Federal Register, the affected small business has 90 
days from such date of publication to make such application.
    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 R10200.

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

    Dated: October 5, 2001.
James E. Rivera,
Acting Associate Administrator for Disaster Assistance.
[FR Doc. 01-25850 Filed 10-12-01; 8:45 am]
BILLING CODE 8025-01-P