More Than $238 Million in SBA Disaster Loans Approved to Help New Jerseyans

ATLANTA, Jan. 14, 2013 /PRNewswire-USNewswire/ -- The U. S. Small Business Administration has approved more than $238 million in Disaster Assistance Loans for residents and businesses in New Jersey affected by Hurricane Sandy.  

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"Currently 3,354 disaster loans have been approved in the amount of $238,586,500 for affected survivors," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta. "We are pleased to get these loans approved so that the residents and businesses in the disaster area can start to rebuild and resume their normal lives. I encourage anyone who has not completed their disaster loan application to do so and return it as quickly as possible." 

SBA's disaster loans are a valuable resource to help individuals and businesses recover from the disaster. Disaster loan funds can help cover the uninsured costs of repairing and replacing damaged property and contents, and in the case of small businesses, economic injury funds are available for working capital needs as a result of the disaster. 

Customer Service Representatives are on hand at the recovery centers located throughout the State to help with the process; they can answer program questions, provide one-on-one assistance and assist with the completion of the application.

Survivors may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.

Additional details on the locations of recovery centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected].  Loan applications can be downloaded from www.sba.gov. 

The filing deadline to return applications for physical property damage is January 30, 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: 13-192 NJ 13367/13368

SOURCE U.S. Small Business Administration

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