Deadline Reminder for SBA Disaster Assistance

Posted on July 29, 2019

The U.S. Small Business Administration (SBA) encourages businesses of all sizes, private
nonprofit organizations, homeowners and renters to apply for a disaster loan for physical damage
before the
Aug. 26 deadline. Anyone in the declared counties in Ohio with damages caused by heavy
rainfall and flooding on May 17, 2019 should apply for the SBA disaster loan assistance.
The declaration covers the following counties: Allen, Auglaize, Darke, Hardin, Logan, Mercer, Shelby
and Van Wert in
Ohio.
Businesses and nonprofits can apply up to $2 million to repair or replace disaster damaged real estate,
machinery, equipment, inventory, and other business assets. Loans for working capital, known as
Economic Injury Disaster Loans, are available even if the business did not suffer any physical damage.
Homeowners can apply up to $200,000 to repair or replace disaster damaged real estate. Homeowners
and renters can apply up to $40,000 to repair or replace damaged personal property including
automobiles.
Interest rates are as low as 4 percent for businesses, 2.75 percent for private nonprofit organizations,
and 1.938 percent for homeowners and renters, with terms up to 30 years. The SBA determines loan
amounts and terms based on each applicant’s circumstances.
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, sump pump, French drain or retaining wall to help protect property and occupants
from future damage caused by a similar disaster.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at
DisasterLoan.sba.gov.
Additional details on the loan application process can 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 sending an email to
disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov.
Completed applications should be 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
Aug. 26, 2019. The deadline
to return economic injury applications is
March 27, 2020


Current track

Title

Artist