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  • U.S. Small Business Administration Approves Over $5 Million Disaster Loans in Virginia; Physical Damage Deadline Jan. 3, 2017

    U.S. Small Business Administration Approves Over $5 Million Disaster Loans in Virginia; Physical Damage Deadline Jan. 3, 2017

    December 1, 2016

    Atlanta, GA - - (November 30, 2016) - - Business Administration has approved more than $5 million in low-interest disaster loans for businesses and residents in Virginia affected by Hurricane Matthew on Oct. 7 - 15, 2016. The deadline to file an SBA disaster loan application for physical damage is Jan. 3, 2017.

    “Currently, 143 disaster loans have been approved in the amount of $5,454,400 for affected survivors,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. “We are pleased to get these loans approved so residents in the disaster area can start to rebuild and resume their normal lives. I encourage anyone who has not submitted an SBA disaster loan application to do so before the deadline.”

    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 disastercustomerservice@sba.gov .

    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.

    Information source: U.S. Small Business Administration

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