Applications for Physical Damage Must be Submitted by Jan. 3, 2017
ATLANTA – The U.S. Small Business Administration announced that over $10 million in low-interest disaster loans have been approved for Virginia businesses and residents affected by Hurricane Matthew on Oct. 7 – 15, 2016.
“Whether you have hurricane damage to your rental property, shop, restaurant, home or contents, an SBA disaster loan can provide an affordable way to restore or repair property and resume normalcy,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. “I encourage anyone who has not submitted an SBA disaster loan application to do so before the Jan. 3, 2017 deadline to apply for physical damages.”
Economic injury disaster loans are also available to provide disaster related working capital to small businesses and most private nonprofit organizations. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
SBA disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters to cover uninsured losses from the disaster. Interest rates are as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations, and 1.563 percent for homeowners and renters. Loan terms can be up to 30 years.
To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use
711-Relay or Video Relay Services should call 800-621-3362.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to firstname.lastname@example.org.
Loan applications can be downloaded from www.sba.gov/disaster. Completed applications can be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Jan. 3, 2017. The deadline to return economic injury applications is Aug. 2, 2017.