A week after super storm Sandy devastated the Northeast, the United States Small Business Administration (SBA) will be providing assistance to all small businesses affected. New York, New Jersey, and Connecticut are all being offered disaster assistance loans including home disaster loans, business physical disaster loans, and economic injury disaster loans.
Businesses and nonprofit organizations may be eligible to borrow up to $2 million; loans up to $200,000 are available to homeowners for repairs or replacement costs on disaster-damaged or destroyed real estate. Homeowners and renters may be eligible up to $40,000 for repairs on or the replacement costs for disaster-damaged or destroyed personal property.
Low interest small business loans from the SBA can carry 30 year terms and interest rates are capped at 4 percent. Applications are due by end of year, while economic injury disaster loans will be due July 2013.
Applicants may apply online via SBA’s secure website at https://disasterloan.sba.gov/ela.
AmOne can also help you get connected with a small business loan if you’ve been affected by super storm Sandy or any other natural disaster. Contact AmOne to get connected with a financial solution for your small business or home today.