The U.S. Small Business Administration (SBA) reminds businesses in the Virgin Islands that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by hurricanes Irma and Maria.
“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the June 7 deadline for Hurricane Irma and June 20 deadline for Hurricane Maria,” said Richard Morgan, acting director of SBA Field Operations Center East.
SBA representatives at the SBA Disaster Loan Outreach Centers (DLOCs) can provide information about disaster loans, answer questions and help survivors complete their SBA application. The locations and hours of operation for the centers are:
SBA – DLOCs Hours: Monday through Friday, 8 a.m. to 5 p.m.; Saturday, 9 a.m. to 2 p.m.; closed Sundays
St. Croix Emile Henderson Sr. Fire Station 53 and 54 B Queen St. Frederiksted, St. Croix, USVI 00840
St. Croix VIYA Building 7G & 7H Estate Diamond, Pepper Tree Road Christiansted, St. Croix, VI 00820
St. Croix Plaza East 4C and 4D, Sion Farm Bay No. 2 Christiansted, St. Croix, VI 00820
St. John Legislature of the Virgin Islands, St. John Annex, 1D Estate Cruz Bay, St. John, VI 0083
St. Thomas 4605 Tutu Park Mall, Suite 233 Anna’s Retreat, St. Thomas, VI 00802
St. Thomas Small Business Development Center University of the Virgin Islands 8000 Nisky Center, Suite 720, St. Thomas, VI 00802 Open Monday through Friday only
Working capital disaster loans for up to $2 million are available at 3.305 percent for small businesses, and 2.5 percent for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at www.DisasterLoan.sba.gov.
Businesses may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing [email protected]. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be returned to a center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.