Wednesday, June 19, 2019

SBA opens Disaster Loan Outreach Center in Linwood - Newton Kansan

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SBA opens Disaster Loan Outreach Center in Linwood - Newton Kansan


SBA opens Disaster Loan Outreach Center in Linwood - Newton Kansan

Posted: 18 Jun 2019 10:01 PM PDT

Low-interest federal disaster loans are available to businesses and residents who were affected by a May 28 tornado that traveled through southern Leavenworth County.

Low-interest federal disaster loans are available to businesses and residents who were affected by a May 28 tornado that traveled through southern Leavenworth County.

The loans are being offered through the U.S. Small Business Administration. The SBA has established a temporary Disaster Loan Outreach Center at the Linwood Community Center, 105 E. Third St., according to a news release from the Small Business Administration.

The Disaster Loan Outreach Center is scheduled to open at 8 a.m. today. It then will be open from 8 a.m. to 5 p.m. Monday through Friday. No appointment is necessary.

The center will shut down its operations at 5 p.m. June 27.

"Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster," Tanya N. Garfield, director of SBA's Disaster Field Operations Center-West, said in a news release.

Garfield said representatives will be on hand at the Disaster Loan Outreach Center "to answer questions about SBA's disaster loan program, explain the application process and help each individual complete their application."

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 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 a business suffered any property damage.
Disaster loans of 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 rates can be as low as 4% for businesses, 2.75% for private nonprofit organizations and 1.938% 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 www.disasterloan.sba.gov/ela

Applicants also can call SBA's Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call 1-800-877-8339. 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 is Aug. 13. The deadline to apply for economic injury is March 16.

Leavenworth County officials have estimated that property damage in the county resulting from the May 28 EF4 tornado exceeds $26 million.

SBA acted under its own authority to declare a disaster in response to a request received from Kansas Gov. Laura Kelly on June 12.
The disaster declaration makes SBA assistance available in Douglas, Franklin, Jefferson, Johnson, Leavenworth, Miami, Osage and Shawnee counties.

A Disaster Loan Outreach Center also has been set up in Douglas County, according to the news release form SBA.
"SBA is strongly committed to providing Kansas with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for businesses and residents affected by the disaster," acting SBA Administrator Christopher M. Pilkerton said in the news release. "Getting our businesses and communities up and running after a disaster is our highest priority at SBA."
Twitter: @LVTNewsJohnR


U.S. Small Business Administration opens walk-in facility to apply for assistance after floods - Tulsa World

Posted: 13 Jun 2019 03:57 PM PDT

The Federal Emergency Management Agency and the U.S. Small Business Administration will open a disaster relief center at Case Community Center this week.

The walk-in center at will be open from 7 a.m. to 7 p.m. at 1050 W. Wekiwa Road each day as long as there's a need.

U.S. Small Business Administration public information officer David Reetz said there are they offer business physical disaster loans, economic injury disaster loans and home disaster loans. The deadline to apply to receive financial disaster assistance from the U.S. Small Business Association is July 31.

Reetz encouraged people affected by the floods to apply and said they don't have to accept the loan when they apply for it.

U.S. Small Business Administration regulations limit home loans to $200,000 to repair or replace real estate and $40,000 to repair or replace personal property. Renters are also eligible for assistance.

Those who don't have sufficient money, other resources or the ability to borrow from other sources are eligible for an interest rate of 1.9 percent on home loans.

Reetz said people should bring an ID, information about the damage their home and property sustained and income information, such as a W2, when they apply.

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