SBA Has Approved Over $61 Million in Disaster Loans in Michigan; Deadline to Apply for Physical Damage Assistance Rapidly Approaching
ATLANTA, Nov. 13, 2014 /PRNewswire-USNewswire/ -- The U. S. Small Business Administration (SBA) has approved over $61 million in Disaster Assistance Loans for businesses and residents in Michigan affected by the severe storms and flooding on Aug. 11-13, 2014. The deadline to file an SBA disaster loan application for physical damage is Monday, Nov. 24.
Over 2,889 disaster loans have been approved for survivors. "I'm proud to support the efforts to help businesses and individuals recover from the damages and losses caused by the August severe storms and flooding," said Gerald Moore, SBA Michigan district director. "By working together with our partners, the Small Business Development Centers (SBDCs) and others, we are not only helping people to obtain low-rate disaster loans from the SBA, we are rebuilding businesses and families, thereby assisting affected communities to recover from this disaster."
SBA disaster loans make recovery more affordable with rates as low as 4 percent for businesses, 2.625 percent for private non-profit organizations and 2.063 percent for homeowners and renters. The SBA is encouraging survivors to submit their applications before the deadline to be considered for the financial assistance.
To be considered for all forms of disaster assistance, survivors may register online at DisasterAssistance.gov or by smart phone or tablet at m.fema.gov. Applicants may call
800-621-3362 or TTY users 800-462-7585. The toll-free telephone numbers are available 7 a.m. to 11 p.m. EDT seven days a week until further notice.
Survivors referred by FEMA to the SBA may apply for disaster loan online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela or visit the nearest recovery center. More information may be obtained 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 email to [email protected]. SBA loan applications can be downloaded from www.sba.gov/disaster. Completed applications can be returned to a recovery 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 November 24, 2014.
The deadline to return economic injury applications is June 25, 2015.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster .
Release Number: 15-061, MI 14132/14133
Contact: Michael Lampton
Email: [email protected]
Phone: (404) 331-0333
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SOURCE U.S. Small Business Administration
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