MP 15707-05, MP 15782-06 SBA to Close Its Business Recovery Center in Saipan

SACRAMENTO, Calif.

– Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA will close its Saipan Business Recovery Center at 5 p.m. on Wednesday, Jan. 16.

“SBA opened the center to provide personalized assistance to Rota businesses affected by Super Typhoon Yutu that occurred Oct. 24-26, 2018, and Typhoon Mangkhut that occurred Sept. 10-11, 2018. Until the center closes, SBA representatives will continue to meet with business owners to answer questions about SBA’s disaster loan program, explain the application process, help each individual complete their electronic loan application and close their approved loans. No appointment is necessary,” said Garfield.

SBA customer service representatives will also continue to be available at the following federal-state Disaster Recovery Center and SBA Disaster Loan Outreach Center to meet with businesses and residents, help each them apply for a disaster loan and close their approved loans,” Garfield continued. The centers are open on the days and times indicated. No appointment is necessary.

So far, SBA has approved over $69.6 million in low interest disaster loans to help businesses and homeowners throughout the Commonwealth of the Northern Mariana Islands - $67.9 million for Super Typhoon Yutu and $1.75 million for Typhoon Mangkhut disasters.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rate is as low as 3.675 percent for businesses, 2.5 percent for private nonprofit organizations and 2 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications at

https://disasterloan.sba.gov/ela

. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email

disastercustomerservice@sba.gov

for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The deadline to apply for property damage for Typhoon Mangkhut is Jan. 27, 2019. The deadline to apply for economic injury is July 1, 2019.

The deadline to apply for property damage for Super Typhoon Yutu is Jan. 27, 2019. The deadline to apply for economic injury is July 26, 2019.