For Immediate Release
SBA Loans Available for Irma Recovery
CHARLOTTE COUNTY, Fla. (Oct. 17, 2017) – The Small Business Administration offers long-term, low-interest loans to businesses and homeowners impacted by Hurricane Irma.
SBA Public Affairs Specialist Tamim Choudhury said during a presentation at Tuesday’s County Commission workshop the agency provides loans up to $200,000 for up to 30 years at interest rates as low as 1.75 percent for homeowners whose property was damaged by the storm. Loans are available for property repairs, including seawalls. Loans up to $40,000 are available to replace or repair personal property, including vehicles.
Business loans up to $2 million for up to 30 years at 3.305 percent interest are available for physical damage, including real estate, inventory and equipment, and working capital. The interest rate for nonprofit organizations, including churches, is as low as 2.5 percent.
The deadline for Irma-related disaster loans is Nov. 9, 2017.
The first step of the loan process is to register with the Federal Emergency Management Agency at www.disasterassistance.gov or by calling 800-621-3362. Loan applications can be found at disasterloan.sba.gov/ela, in person at a Disaster Recovery Center or by calling 800-659-2955 to request an application form be mailed. A list of Disaster Recovery Centers is available at www.fema.gov/disaster-recovery-centers.