SACRAMENTO, Calif. - Low-interest federal disaster loans are available to Washington businesses and residents affected by the severe storms, flooding and mudslides in Grays Harbor County from January 3 - 6, U. S. Small Business Administration (SBA) Administrator Maria Contreras-Sweet announced Thursday. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Jay Inslee on January 27.
The disaster declaration makes SBA assistance available in Grays Harbor, Jefferson, Lewis, Mason, Pacific and Thurston counties.
“SBA is strongly committed to providing Washington 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 residents and businesses affected by the disaster,” said Contreras-Sweet. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“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,” said SBA’s Seattle District Director Nancy Porzio. “Beginning Monday, February 2, SBA representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Porzio continued. The center will be open on the days and times indicated until further notice. No appointment is necessary.
The Disaster Loan Outreach Center will be housed in the county’s Pearsall Building, 2109 Sumner Ave., Aberdeen, open Monday, February 2 at 8:00 a.m. and operating Monday - Friday, 8:00 - 4:30 p.m.
Businesses of any size 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 homeowners and businesses 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 (EIDLs) to help meet working capital needs caused by the disaster. EIDL 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 rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.938 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 using the Electronic Loan Application (ELA) via SBA’s secure website at http://ift.tt/UJSdRu.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. For more information about SBA’s disaster assistance programs, visit http://ift.tt/1fmpZIz.
The filing deadline to return applications for property damage is March 30, 2015. The deadline to return economic injury applications is October 29, 2015.
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