SBA To Host Dec. 13 Meeting Re Business And Homeowner Loans

http://www.crisfieldrecovery.org/project-updates/smallbusinessadministrationhostsdec13meetingonbusinessandhomeownerloans

On Thursday, December 13, 2012 at 11 a.m. at the Crisfield Fire Department, the Small Business Administration will host a meeting for all homeowners, nonprofits, and businesses interested in participating in their Disaster Assistance loan program. Loans are available in Somerset, Wicomico and Worcester Counties in Maryland and Accomack and Northampton Counties in Virginia. The Crisfield Fire Department is located at 600 West Main St., Crisfield, MD 21817.

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said Jayne Armstrong, SBA’s Virginia district director.

Interest rates are as low as 1.688 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

If you are unable to make the meeting Thursday, you can apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

The SBA has opened a Disaster Outreach Center located at:

Accomack CountyEastern Shore Regional Fire Training Center
28598 Beacon Road
Melfa, Virginia 23410

Opening: Tuesday, Dec. 11 at 10 a.m.Hours: 10 a.m. to 7 p.m., Monday - Saturday
Closed: Sunday, Dec. 16, 2012
Closing: Thursday, Dec. 20, 2012 at close of business

Individuals and businesses unable to visit the Center 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 sending an email todisastercustomerservice@sba.gov. Loan applications can also be downloaded from the SBA’s website at www.sba.gov.Completed applications should be returned to the 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 February 5, 2013. The deadline to return economic injury applications is September 9, 2013.