76.7 F
Charlotte Amalie
Friday, April 12, 2024
HomeCommunityOrganizationsFEMA Recovery Centers Offer Help With SBA Disaster Loans

FEMA Recovery Centers Offer Help With SBA Disaster Loans

U.S. Small Business Administration

Business owners and nonprofit organizations that need assistance with reconstructing records, preparing financial statements or applying online should consider going to one of the Small Business Administration (SBA) Recovery Centers. Homeowners and renters who prefer face-to-face assistance should meet with representatives at one of the FEMA Disaster Recovery Centers to apply. SBA representatives at the recovery centers can provide information about disaster loans, answer questions and help businesses and individuals complete the SBA application.

SBA disaster loans are available to businesses of all sizes — most private nonprofit organizations, homeowners and renters — to cover uninsured losses from the hurricanes.  Interest rates are as low as 3.305 percent for businesses, 2.5 percent for private nonprofit organizations, and 1.75 percent for homeowners and renters.  Loan terms can be up to 30 years.

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.

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.

Additional information on the disaster loan program may be obtained by calling 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 disastercustomerservice@sba.gov.  Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.  Loan applications can be downloaded from www.sba.gov/disaster.  Completed applications should 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 submit applications for physical property damage is Jan. 8, 2018, for hurricanes Irma and Maria. The deadline for economic injury applications is June 7, 2018, for Hurricane Irma and June 20, 2018, for Hurricane Maria.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.