Scribd Logo
Upload

Welcome to Scribd!

  • Sba Disaster Assistance Loans Business e

    Uploaded by

    MelizanetteTexidor
    12 views1 page
    The SBA offers disaster assistance loans to help businesses and non-profits recover from declared disasters. There are two main types of loans - business disaster loans up to $2 million to repair or replace damaged property, inventory, and assets, and economic injury disaster loans up to $2 million for working capital needs of businesses affected regardless of property damage. Loans can be used to make property improvements to prevent future damage and may cover insurance deductibles or required code upgrades. Applicants are encouraged to apply as soon as possible after a disaster is declared as the deadline is usually 60 days, and no need to wait for other assistance before applying. The application process involves submitting an application, then an estimate of repair costs, loan review,

    Original Description:

    Sea interesante

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The SBA offers disaster assistance loans to help businesses and non-profits recover from declared disasters. There are two main types of loans - business disaster loans up to $2 million to repair or replace damaged property, inventory, and assets, and economic injury disaster loans up to $2 million for working capital needs of businesses affected regardless of property damage. Loans can be used to make property improvements to prevent future damage and may cover insurance deductibles or required code upgrades. Applicants are encouraged to apply as soon as possible after a disaster is declared as the deadline is usually 60 days, and no need to wait for other assistance before applying. The application process involves submitting an application, then an estimate of repair costs, loan review,

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    12 views1 page

    Sba Disaster Assistance Loans Business e

    Uploaded by

    MelizanetteTexidor
    The SBA offers disaster assistance loans to help businesses and non-profits recover from declared disasters. There are two main types of loans - business disaster loans up to $2 million to repair or replace damaged property, inventory, and assets, and economic injury disaster loans up to $2 million for working capital needs of businesses affected regardless of property damage. Loans can be used to make property improvements to prevent future damage and may cover insurance deductibles or required code upgrades. Applicants are encouraged to apply as soon as possible after a disaster is declared as the deadline is usually 60 days, and no need to wait for other assistance before applying. The application process involves submitting an application, then an estimate of repair costs, loan review,

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Disaster Assistance Loans

    When Disaster Strikes


    Even with the best preparedness planning, a disaster can BUSINESSES & NONPROFITS
    affect your business or organization. The SBA’s disaster
    assistance loans can be used to help you get back to
    business sooner, help you make property improvements
    that eliminate future damage or save lives. After a disaster
    has been declared, loans can even be increased up to 20%
    to make the building upgrades. Loans may also be used for
    insurance deductibles, required building code upgrades
    not covered by insurance or to help with relocation.

    Business Disaster Loans — up to $2 million* Economic Injury Disaster Loans — up to $2 million*


    SBA disaster loans are available to businesses (regardless These loans are for small businesses, agricultural
    of size), and nonprofits including charitable organizations cooperatives, aquaculture enterprises and nonprofits
    such as churches and private universities. affected by disaster to help meet working capital needs or
    Loans enable you to repair or replace damaged or normal business operating expenses through the recovery
    destroyed real estate, machinery and equipment, period. Businesses are eligible for these loans regardless of
    inventory, and other business assets. The loans may also whether they have suffered property damage.
    be used for structural improvements such as adding a
    *The maximum loan for any combination of property damage
    retaining wall or sump pump, clearing out overgrown
    and/or economic injury is $2 million.
    landscaping, building a safe room or elevating the
    property to lessen the effect of future disasters. Questions? Visit www.sba.gov/disaster

    Rebuilding Stronger is Within Reach — Start Now


    There is no need to wait for settled insurance claims, potential FEMA grants or contractor estimates before applying.
    Generally, the deadline to apply for these long-term, low interest rate loans is 60 days from the declared disaster—so we
    encourage you to apply as soon as possible!

    The Application Process

    Apply Review Decide


    Go to disasterloanassistance.sba.gov After an initial credit check, a loss You will be contacted with a loan
    or Call (800) 659-2955 or (TTY) 7-1-1 verifier estimates the total cost to repair decision. If approved, a case manager
    to request an application. or replace your damaged property. A will assist with closing the loan and
    loan officer reviews the application and scheduling disbursements.
    guides you through the process.

    All SBA programs and services are extended to the public on a nondiscriminatory basis. (5/2022)

    You might also like