Small business hurt by Hurricane Irma? Apply for these interest-free state loans

SBA Disaster Assistance for Businesses and Residents following Hurricane Irma
Small business hurt by Hurricane Irma? Apply for these interest-free state loans
Author

25 September, 2017

Mondays - Friday 8 a.m. - 6 p.m. "I'm hopeful the SBA will quickly approve my request to provide disaster assistance".

"The recovery efforts from Hurricane Irma will take some time, however, the SBA's implementation of disaster assistance in the impacted areas will help usher along the process", said South Florida District Director Francisco "Pancho" Marrero. The deadline to return economic injury applications is June 11.

From the U.S. Small Business Administration.

Governor Rick Scott activated the Florida Small Business Emergency Bridge Loan Program to provide short-term, interest-free loans to businesses damaged by the storm. The centers will open as indicated below.

Donaldson said business owners should not doubt the availability of the loans being made accessible in the wake of the storm.

Through the program, small businesses affected by Irma will be able to apply for short-term, interest-free loans.

According to Texas Gulf Coast SBDC Network Executive Director Dr. Steve Lawrence, SBDC business advisors at the center will provide business assistance to clients on a wide variety of matters created to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future. Services include assessing business economic injury, evaluating the business's strength, cash flow projections and most importantly, a review of options with the business owner to help them evaluate their alternatives and make decisions that are appropriate for their situation. Homeowners can apply for up to $200,000 to fix or replace disaster damaged real estate. The loans can be used for loss and damages not fully covered by insurance.

Businesses and nonprofits in Manatee, Sarasota, Charlotte, Broward, Clay, Collier, Duval, Flagler, Hillsborough, Lee, Miami-Dade, Monroe, Palm Beach, Pinellas, Putnam and Saint Johns counties are eligible for both physical and economic injury disaster loans from the SBA.

Disaster loans up to $200,000 are available to homeowners to fix or replace disaster damaged or destroyed real estate.

State officials advise anyone seeking the loans for Hurricane Irma impacts to apply online at the website floridadisasterloan.org. The deadline for Florida Emergency Bridge Loan applications is October 31. They can then submit an online application at disasterloan.sba.gov/ela.

"We have small-business owners sitting in our office filling out applications", Donaldson said.


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