Disaster press release VI 15294

VI 15294 and 15321 - SBA Approves Over $500 Million Disaster Loans in U.S. Virgin Islands

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ATLANTA – The U.S. Small Business Administration (SBA) announced today that the SBA has now approved over $500 million in low-interest disaster loans for Virgin Islands businesses and residents affected by Hurricanes Irma and Maria.

“Currently, 7,283 disaster loans have been approved in the amount of $500,373,500 for affected survivors.  SBA representatives remain in the U.S. Virgin Islands to assist survivors with their recovery from last year’s hurricanes.  SBA disaster loans are an affordable way for businesses and residents to rebuild and resume their normal lives as quickly as possible,” said Richard Morgan, acting director of SBA’s Field Operations Center East in Atlanta.

SBA representatives at the Centers can provide information about disaster loans, answer questions and help survivors complete their SBA application.  The locations and hours of operation for the Centers are indicated below.

SBA Disaster Loan Outreach Centers (DLOC)

Hours:  Monday - Friday, 8 a.m. - 5 p.m.; Saturday, 9 a.m. - 2 p.m.

Closed Sundays

St. Croix

Emile Henderson Sr. Fire Station

53 & 54 B Queen St.

Frederiksted, St. Croix, USVI 00840

St. Croix

VIYA Building

7G & 7H Estate Diamond, Pepper Tree Rd

Christiansted, St. Croix, VI  00820

St. Croix

Plaza East

4C & 4D, Sion Farm Bay #2

Christiansted, St. Croix, VI 00820

St. John

Legislature of the Virgin Islands, St. John Annex

1D Estate

Cruz Bay, St. John, VI  00830

St. Thomas

Tutu Park Mall

4605 Tutu Park Mall, Suite 233

Anna’s Retreat, St. Thomas, VI  00802

St. Thomas

Small Business Development Center

University of the Virgin Islands

8000 Nisky Center, Suite 720

St. Thomas, VI 00802

Open Mon. – Fri. only

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.

Additional information on the disaster loan program may be obtained by calling 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 sba.gov .  Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov . Completed applications should 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.  For more information about SBA recovery assistance, visit sba.gov/disaster .

The filing deadline to submit applications for economic injury applications is June 7, 2018 for Hurricane Irma and June 20, 2018 for Hurricane Maria.

ATLANTA – The U.S. Small Business Administration (SBA) announced today that the SBA has now approved over $500 million in low-interest disaster loans for Virgin Islands businesses and residents affected by Hurricanes Irma and Maria.

ATLANTA – $500 million Virgin Islands

“Currently, 7,283 disaster loans have been approved in the amount of $500,373,500 for affected survivors.  SBA representatives remain in the U.S. Virgin Islands to assist survivors with their recovery from last year’s hurricanes.  SBA disaster loans are an affordable way for businesses and residents to rebuild and resume their normal lives as quickly as possible,” said Richard Morgan, acting director of SBA’s Field Operations Center East in Atlanta.

SBA representatives at the Centers can provide information about disaster loans, answer questions and help survivors complete their SBA application.  The locations and hours of operation for the Centers are indicated below.

SBA Disaster Loan Outreach Centers (DLOC)

SBA Disaster Loan Outreach Centers (DLOC)

Hours:  Monday - Friday, 8 a.m. - 5 p.m.; Saturday, 9 a.m. - 2 p.m.

Hours:  Monday - Friday, 8 a.m. - 5 p.m.; Saturday, 9 a.m. - 2 p.m.

Closed Sundays

Closed Sundays

St. Croix

St. Croix

Emile Henderson Sr. Fire Station

53 & 54 B Queen St.

Frederiksted, St. Croix, USVI 00840

St. Croix

St. Croix

VIYA Building

7G & 7H Estate Diamond, Pepper Tree Rd

Christiansted, St. Croix, VI  00820

St. Croix

St. Croix

Plaza East

4C & 4D, Sion Farm Bay #2

Christiansted, St. Croix, VI 00820

St. John

St. John

Legislature of the Virgin Islands, St. John Annex

1D Estate

Cruz Bay, St. John, VI  00830

St. Thomas

St. Thomas

Tutu Park Mall

4605 Tutu Park Mall, Suite 233

Anna’s Retreat, St. Thomas, VI  00802

St. Thomas

St. Thomas

Small Business Development Center

University of the Virgin Islands

8000 Nisky Center, Suite 720

St. Thomas, VI 00802

Open Mon. – Fri. only

Open Mon. – Fri. only

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.

Additional information on the disaster loan program may be obtained by calling 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 sba.gov .  Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov . Completed applications should 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.  For more information about SBA recovery assistance, visit sba.gov/disaster .

The filing deadline to submit applications for economic injury applications is June 7, 2018 for Hurricane Irma and June 20, 2018 for Hurricane Maria.

June 7, 2018 June 20, 2018

Related programs: Disaster