The SBA is Offering Disaster Assistance to Residents & Businesses
In Need of Relief from the Flood?
Learn the basics behind receiving a low-interest loan through the SBA!
An Important Alert!
Whether uninsured or underinsured, the U.S. Small Business Administration is making low-interest loans available to those affected by the flood that impacted Newton County on June 27th, 2020.
Other Indiana counties included in this relief program are Benton, Jasper and Lake, as well as Illinois counties, Iroquois and Kankakee. It’s an opportunity to get back on our feet and to once again receive a sense of peace.
Who Exactly is Eligible to Receive these Loans?
If you’re a businesses, nonprofit, homeowner or renter, you are precisely who the SBA is wanting to help. These loans can be applied two ways: toward physical damage and economic injury.
Physical Damage involves restoring or replacing damaged property that is the direct result of a disaster.
Economic Injury takes place when a disaster impacts a business’ ability to meet obligations or cover operating expenses.
To learn more about different types of Disaster Loans offered through the SBA, click here.
What are the Interest Rates and How Do I Apply?
If you’re a homeowner or renter, the interest rates on these loans can be as low as 1.25%. If you’re a nonprofit organization, this number is 2.75%, and if you’re a business, it’s 3%. As far as repayment terms go, these can be prolonged as far out as 30 years!
To begin the online application process, all you have to do is click the button below. It will take you directly to the SBA’s website, where you can create a profile and start inputting all of the essential information needed to get you the specific loan you’re in need of.
Virtual Disaster Loan Outreach Center Information
Open: Monday – Friday
Hours: 8am – 5pm
Closed: Saturdays and Sundays
Closed: Monday, September 7th in Observance of Labor Day
Email: [email protected]
Phone: (571) 422-6016 or (571) 422-1925
Filing Deadline
If you’re wanting to take advantage of this opportunity and receive disaster loan assistance, you’ll need to file your application by October 13, 2020. We’ve also made sure to attach a helpful (and downloadable) Fact Sheet and Flyer that can be shared online, whether it be through your website or various social media profiles!