Low interest disaster assistance loans available in Somerset County - meeting Thursday to discuss it
Some breaking news on a Friday night to hopefully brighten your weekend.
The SBA has approved a loan program for both businesses AND HOMEOWNERS. Basically, homeowners can borrow up to $200,000 for real estate, $40,000 for personal property, and businesses can borrow $2 million dollars. They are low interest loans – as low as 1.688 for individuals, 3% for nonprofits, and 4% for businesses. They are not grants.
It is actually being done through Virginia. You can read the attached fact sheets.
The Small Business Development Center has arranged for the SBA representatives to make a presentation on this loan program in Crisfield on Thursday, Dec. 13, 2012 at 11 a.m. at the Crisfield Fire Department.
We are holding the meeting at the fire hall because we anticipate that there will be a large crowd. (Please note that the original location of City Hall has been changed to accommodate the expected crowd.)
Finally, we have some good news to give people. This isn’t as good as the grant program that FEMA would have provided, but it is a positive thing for the business community.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
You know I consider myself a fairly educated person & I have empathy for those who are hurt or troubled----but I don't understand why people think "We" the taxpayers are to afford them new housing because they didn't have Flood Insurance in Crisfield.
I would think the Insurance Co---or rather Hope the Insurance Companys are getting the money immediately to the ones who did have Insurance---If not, then that's where people need to get some action taken.
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