WASHINGTON
–Alabama businesses and residents affected by Hurricane Michael on October 10 – 13, 2018, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.
Administrator McMahon made the loans available in response to a letter from Gov. Kay Ivey on Nov. 16, 2018, requesting a disaster declaration by the SBA. The declaration covers the Geneva and Houston counties, and the adjacent counties of Coffee, Covington, Dale and Henry, in
Alabama
; Holmes, Jackson and Walton in
Florida
; and Early and Seminole in
Georgia
.
“The SBA is strongly committed to providing the people of
Alabama
with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
“I appreciate the Small Business Administration for approving my request for assistance for communities in the Wiregrass affected by Hurricane Michael,” Governor Kay Ivey said. “We know that there are many individuals and businesses that will benefit from the federal disaster loans that SBA offers as they try to recover from this disaster. I encourage those in eligible counties to take advantage of this considerate assistance.”
SBA’s Customer Service Representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.
The Centers are located in the following community and are open as indicated:
Geneva County
Slocomb Volunteer Fire Department
324 South State Highway 103
Slocomb, AL 36375
Opening: Tuesday, Nov. 27, 2018 at 11 a.m.
Hours: Monday – Friday, 9 a.m. – 6 p.m.
Saturdays, 10 a.m. – 2 p.m.
Closed: Sundays
Closes: Saturday, Dec. 8 at 2 p.m.
Houston County
Gordon Senior Citizens Building
692 Tifton Road
Gordon, AL 36343
Opening: Tuesday, Nov. 27, 2018 at 11 a.m.
Hours: Monday – Friday, 8 a.m. – 5 p.m.
Saturdays, 9 a.m. – noon
Closed: Sundays
Closes: Saturday, Dec. 8 at noon
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Alabama District Director Tom Todt.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“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 Kem Fleming, center director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 3.675 percent for businesses, 2.5 percent for nonprofit organizations, and 2 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
“We are so appreciative of the SBA approving the Governor’s request to assist communities ravaged by Hurricane Michael. SBA assistance will provide an option for individuals to repair damage to their homes and businesses caused by the storm,” Alabama EMA Director Brian Hastings said. “Those who received damaged from Hurricane Michael or have questions about SBA assistance in the declared counties should contact the SBA or stop by the Disaster Loan Outreach Center to inquire about assistance.”
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
DisasterLoan.sba.gov
.
Businesses and individuals 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 emailing
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
www.sba.gov
. Completed applications should be returned to the centers 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
Jan. 22, 2019
. The deadline to return economic injury applications is
Aug. 20, 2019
.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.
WASHINGTON
–Alabama businesses and residents affected by Hurricane Michael on October 10 – 13, 2018, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.
WASHINGTON
Administrator McMahon made the loans available in response to a letter from Gov. Kay Ivey on Nov. 16, 2018, requesting a disaster declaration by the SBA. The declaration covers the Geneva and Houston counties, and the adjacent counties of Coffee, Covington, Dale and Henry, in
Alabama
; Holmes, Jackson and Walton in
Florida
; and Early and Seminole in
Georgia
.
Alabama
Florida
Georgia
“The SBA is strongly committed to providing the people of
Alabama
with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Alabama
“I appreciate the Small Business Administration for approving my request for assistance for communities in the Wiregrass affected by Hurricane Michael,” Governor Kay Ivey said. “We know that there are many individuals and businesses that will benefit from the federal disaster loans that SBA offers as they try to recover from this disaster. I encourage those in eligible counties to take advantage of this considerate assistance.”
SBA’s Customer Service Representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.
The Centers are located in the following community and are open as indicated:
Geneva County
Geneva County
Slocomb Volunteer Fire Department
324 South State Highway 103
Slocomb, AL 36375
Opening: Tuesday, Nov. 27, 2018 at 11 a.m.
Hours: Monday – Friday, 9 a.m. – 6 p.m.
Saturdays, 10 a.m. – 2 p.m.
Closed: Sundays
Closes: Saturday, Dec. 8 at 2 p.m.
Houston County
Houston County
Gordon Senior Citizens Building
692 Tifton Road
Gordon, AL 36343
Opening: Tuesday, Nov. 27, 2018 at 11 a.m.
Hours: Monday – Friday, 8 a.m. – 5 p.m.
Saturdays, 9 a.m. – noon
Closed: Sundays
Closes: Saturday, Dec. 8 at noon
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Alabama District Director Tom Todt.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“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 Kem Fleming, center director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 3.675 percent for businesses, 2.5 percent for nonprofit organizations, and 2 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
“We are so appreciative of the SBA approving the Governor’s request to assist communities ravaged by Hurricane Michael. SBA assistance will provide an option for individuals to repair damage to their homes and businesses caused by the storm,” Alabama EMA Director Brian Hastings said. “Those who received damaged from Hurricane Michael or have questions about SBA assistance in the declared counties should contact the SBA or stop by the Disaster Loan Outreach Center to inquire about assistance.”
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
DisasterLoan.sba.gov
.
Businesses and individuals 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 emailing
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
www.sba.gov
. Completed applications should be returned to the centers 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
Jan. 22, 2019
. The deadline to return economic injury applications is
Aug. 20, 2019
.
Jan. 22, 2019
Aug. 20, 2019
About the U.S. Small Business Administration
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.