ATLANTA, Jan. 8, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announces today that they have established a Disaster Loan Outreach Center (DLOC) in Suffolk County, New York to help those affected by Hurricane Sandy. The establishment of the Center demonstrates SBA's commitment to ensure that every qualified individual and business receives the help they need to recover from this disaster.
"Assisting individuals and business owners to recover from a disaster is our primary mission," said Frank Skaggs, director of SBA Field Operations Center East. "We are encouraging anyone affected by this disaster to visit the Center or any Disaster Recovery Center located throughout the disaster area."
Many residents and businesses that have registered with FEMA for assistance have received an SBA disaster loan application. Completing the loan application and returning it is a crucial step in the disaster recovery process. Homeowners and renters unable to obtain a disaster loan from the SBA may be referred to FEMA for grant consideration. To be eligible for these grants, applicants must submit their SBA loan application even if they do not want a loan. No one is required to accept a loan.
The location of the Center is as follows:
Mastic Recreation Community Center
15 Herkimer Street
Mastic, NY 11950
Opened: Monday, Jan. 7 from 9 a.m. to 6 p.m.
Hours: Monday – Friday from 9 a.m. – 6 p.m.
Closes: Friday, Jan. 11 at the close of business
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
"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," Skaggs added.
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, inventory, machinery and equipment. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses and private non-profit organizations of all sizes, the 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.
Interest rates are as low as 1.688 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant's financial condition.
To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or by mobile device at m.fema.gov. If online or mobile access is unavailable, applicants should call the FEMA toll-free Helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
Anyone unable to visit this Center or any of the Recovery Centers may obtain information and loan applications by calling the SBA's Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to email@example.com. Business loan applications may be downloaded from www.sba.gov. Applications may be returned to the SBA Disaster Loan Outreach Center, any Disaster Recovery Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
The filing deadline to return applications for physical property damage is January 28, 2013.
The deadline to return economic injury applications is July 31, 2013.
For more information about the SBA's Disaster Loan Programs, visit our website at www.sba.gov.
Contact: Michael Lampton
Phone: (404) 331-0333
Release Number: 13-174, NY 13365/13366
SOURCE U.S. Small Business Administration