Loans from Small Business Administration still available for flood victims
By Karl Polacek
Published: Tuesday, July 30, 2013, 12:41 a.m.
The deadline is fast approaching for victims of recent flooding to apply for a loan to cover propery damage.
Sept. 16 is the last day to file for a Small Business Administration loan, which would cover property damage from flooding in Fayette County and surrounding areas between June 27 and July 12. For economic injury applications, the deadline is April 16, 2014.
It previously was reported that July 30 was the last day. However, Tuesday is the last day to seek help at the terminal building at the Joseph A. Hardy Connellsville Airport , 988 Sky Drive, Lemont Furnace.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
Individuals and businesses unable to visit one of the 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 emailing email@example.com. Loan applications can also be downloaded at www.sba.gov.
Completed applications should be returned to one of the centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Two classes of loans are available. Loans of as much as $200,000 are available to repair or replace damaged or destroyed real estate. Homeowners and renters can borrow as much as $40,000 to repair or replace damaged or destroyed personal property.
Businesses and nonprofit organizations of any size may borrow as much as $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
Other forms of aid are available.
Interest rates are as low as 1.875 percent for homeowners and renters, 2.875 percent for nonprofit organizations and 4 percent for businesses, with terms as long as 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.
Karl Polacek is a staff writer for Trib Total Media. He can be reached at firstname.lastname@example.org or 724-626-3538.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Southmoreland seniors to don caps and gowns June 4
- Bullskin, Connellsville youngsters ‘paying it forward’
- Connellsville rec board making plans for summer
- Dunbar Twp.’s Upper Sandy Hollow Road, Falls Avenue face repairs
- Uniontown man sentenced in robbery spree
- Uniontown man sentenced to 12 years for burglaries
- Rural King Supply confirms store opening in Dunbar Township
- 2013 was a challenging year for Highlands Hospital
- Connellsville FRIENDS hosting book sale Saturday
- City seeks to join regional enterprise zone
- Clinton Church of God to hold fish fries