The U.S. Small Business Administration is opening a Disaster Loan Outreach Center at the Office of Emergency Management and Homeland Security in Gaithersburg, MD (photo ID needed for admittance). This is the third temporary Center available for businesses and residents affected by severe weather and flooding on July 6-8, 2019 to apply for low-interest disaster loans from the SBA. The disaster declaration covers Arlington County and the adjacent independent cities of Alexandria and Falls Church, and Fairfax County in Virginia; Montgomery County in Maryland, and the District of Columbia.
SBA’s Customer Service Representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.
Disaster survivors in any of the declared areas may visit any of the locations to apply.
The Centers are located in the following communities and are open as indicated:
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Arlington County, VA Arlington County Trades Center Parks and Natural Resources Conference Center Arlington, VA 22206
Opening: Tuesday, Aug. 13 at 11 a.m. Hours: Tuesday – Thursday, 11 a.m. to 8 p.m. Friday, Aug. 16, 10 a.m. to 6 p.m. Saturday, Aug. 17, 9 a.m. to 1 p.m. Closed: Sunday, Aug. 18 Last Day: Monday, Aug. 19, 11 a.m. to 8 p.m. |
Fairfax County, VA Tyson-Pimmit Regional Library (Quiet Study Room) Falls Church, VA 22043
Opening: Tuesday, Aug. 13 at 11 a.m. Hours: Tuesday – Thursday, 11 a.m. to 8 p.m. Friday, Aug. 16, 10 a.m. to 6 p.m. Saturday, Aug. 17, 1 p.m. to 5 p.m. Closed: Sunday, Aug. 18 Last Day: Monday, Aug. 19, 11 a.m. to 8 p.m. |
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Montgomery County, MD *Photo ID is needed to get through Security Office of Emergency Management and Homeland Security 100 Edison Park Drive, Suite 1S31 Gaithersburg, MD 20878 Opening: Wednesday, Aug. 14 at 11 a.m. to 6 p.m. Hours: Monday – Friday, 9 a.m. to 6 p.m. Saturday, Aug. 17, 10 a.m. to 2 p.m. Closed: Sunday, Aug. 18 Last Day: Wednesday, Aug. 21, 9 a.m. to 4 p.m. |
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“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Virginia District Director Carl Knoblock.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, center director of SBA’s Field Operations Center East in Atlanta.
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.
Interest rates are as low as 4 percent for businesses, 2.750 percent for nonprofit organizations, and 1.938 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the 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 https://disasterloan.sba.gov/ela/.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing [email protected]. Loan applications can also be downloaded at www.sba.gov. Completed applications should be returned to the center or 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 Oct. 7, 2019.
The deadline to return economic injury applications is May 7, 2020.
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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov