SBA to Open a Disaster Loan Clearinghouse on 23 July

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SBA to Open a Disaster Loan Clearinghouse on July 23

Chris Martin

Those affected by severe weather on March 25-26 can apply for low-interest disaster loans from the SBA, including Cowet and Carroll, Fayette, Fulton, Heard, Meriwether, Spaulding and Troop counties.

The US Small Business Administration offers disaster relief to businesses and residents affected by the March tornado.

Those affected by severe weather on March 25-26 can apply for low-interest disaster loans from the SBA, including Cowet and Carroll, Fayette, Fulton, Heard, Meriwether, Spaulding and Troop counties.

On Friday, July 23, at 9:00 am, at the Newnan Cowet Chamber of Commerce, 23 Bullsborough Dr. Newnan, the SBA will open a Disaster Loan Outreach Center in Cowet County.

The center will be open Monday through Friday from 9:00 am to 6:00 pm, and on Saturday, July 24, from 10:00 am to 2:00 pm. It will be closed on Sundays and will finally close on Thursday 5 August at 18:00.

“The SBA is firmly committed to providing the people of Georgia with the most effective and

“A customer-centric response capability to help businesses of all sizes, homeowners and tenants obtain federal disaster loans,” said SBA Administrator Isabella Casillas Guzmán. “Getting businesses and communities to work after natural disasters is our top priority at SBA.”

Customer service representatives will be available at the center to answer questions about the disaster loan program and help people complete applications.

Due to the ongoing COVID-19 pandemic, the SBA has developed protocols that help protect public health and safety. All DLOC visitors are advised to wear face masks.

“Businesses and private nonprofits can borrow up to $ 2 million to repair or replace property, machinery and equipment, inventory and other business assets damaged or destroyed by natural disasters or destroyed,” said Terry Denison, SBA’s Georgia District Director.

To small businesses, small agricultural cooperatives, small aquaculture businesses, and most private non-profit organizations, SBA offers economic disaster emergency loans to help meet the working capital needs caused by the disaster.

Economic Disaster Loan Assistance is available regardless of whether the business has suffered property damage.

“Loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed properties,” said Keem Fleming, director of the SBA’s East Operations Center in Atlanta. Homeowners and tenants are eligible for loans of up to $ 40,000 to repair or replace damaged or destroyed personal property. ”

Applicants may be eligible for an increase in the loan amount of up to 20 percent of their physical damage, as confirmed by the SBA for mitigation purposes.

Acceptable mitigation improvements could include a safe room or shelter from the rain, a sump pump, a French sewer or retaining wall to help protect property and residents from future damage caused by a similar disaster.

Interest rates are just 3 percent for businesses, 2 percent for nonprofits, and 1.25 percent for homeowners and tenants up to 30 years. Loan amounts and conditions are set by the SBA and are based on the financial condition of each applicant.

Applicants can apply online using the online loan application through the secure SBA DisasterLoanAssistance.sba.gov/ela/s website, and must apply under SBA Declaration 17041 and not in relation to the COVID-19 incident.

Emergency loan information and application forms can also be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing) or by emailing DisasterCustomerService@sba.gov.

Loan applications can be downloaded from sba.gov/disaster. Completed applications should be returned to the center or mailed to: United States Small Business Administration, Disbursement and Processing Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline for filing claims for compensation for material damage is September 20, 2021.The deadline for returning claims for material damage is April 20, 2022.





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