SBA Approves Over $300 Million Disaster Loans in Florida; Extends Physical Damage Applications Deadline to Nov. 24
ATLANTA – The U.S. Small Business Administration (SBA) has extended the deadline to apply for physical disaster damages in Florida . Businesses and individuals with physical damages caused by Hurricane Irma should apply for SBA low-interest disaster loan before the Nov. 24, 2017 deadline.
“Currently, 8,474 disaster loans have been approved in the amount of $308,838,300 for affected survivors. The SBA encourages anyone who has not applied to take action right away. Our mission is to help businesses and residents rebuild and resume their normal lives as quickly as possible,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.
The disaster declaration covers the counties of Alachua, Baker, Bradford , Brevard, Broward, Charlotte, Citrus, Clay, Collier, Columbia , DeSoto, Dixie, Duval, Flagler, Gilchrist, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lafayette, Lake, Lee, Levy, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, Saint Johns, Saint Lucie, Sumter, Suwannee, Union, and Volusia in Florida which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Hamilton, Madison and Taylor in Florida; Camden , Charlton , Clinch , Echols and Ware in Georgia.
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 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.