The VT counties of Addison and Chittenden are eligible for disaster assistance as contiguous counties to the NY 16304 declaration. While VT saw damage from the same storm, it was not severe enough to qualify for assistance, even though there were impacts. Now, residents of Addison and Chittenden Counties can get help through the NY declaration.
It applies to renters, homeowners, non-profits and businesses of any size who have uninsured or under-insured damage from the Halloween storm. Small business and non-profits may also apply for economic injury disaster loans.
The application deadline is April 27 for physical damage loans and Nov. 25 for economic injury. Please see the info below for details and the attached files.
—
The U.S. Small Business Administration (SBA) is offering low-interest loans to businesses of all sizes, private non-profit organizations, homeowners and renters impacted by the Halloween 2019 storm and flooding. Please see the attached documents for a list of the 15 NY counties and two VT counties eligible for this assistance.
To apply online visit www.disasterloan.sba.gov, or call (800-659-2955) with questions or to request a paper loan application through the mail. Businesses wishing to put in an application can get assistance at any SBA office, SBDC, SCORE, etc. To find a convenient location, use this link:
https://www.sba.gov/local-assistance
Here are some program highlights:
- Uninsured or under-insured damage occurring Oct. 31-Nov. 1 is eligible for a possible low-interest SBA Disaster Assistance Loan. (For homeowners, the home must be their primary residence.) You may borrow up to the amount of your uncompensated physical damages.
- The deadline to apply for physical damage loans is April 27, 2020.
- Loans of $25,000 or less are unsecured and do not require collateral.
- Interest rates for homeowners and renters are as low as 1.5% with a term up to 30 years.
- For businesses, interest rates are as low as 3.875% with a term up to 30 years.
- Loans for churches and other private non-profit organizations are 2.75%, with a term up to 30 years.
- Loans are directly from the federal government—the rate and term do not change.
- It is free to apply, and there are no points or closing fees on disaster loans.
- SBA is deferring the first payment due on these loans for four months, so that you can make repairs and replacements before you start making payments. The first payment is due 4 months plus 30 days from when you sign the closing documents.
- If offered a loan, you have 60 days to decide to accept it, or you can accept a partial amount. If you decline, you have 6 months to change your mind and reapply.
- Loans can be used to make repairs while you wait for your insurance settlement, which can then be used to pay down your loan. Talk to your loan officer about using an SBA disaster loan to pay off a higher-interest rate loan/credit card you might have used to finance your repairs.
- Small businesses and most private, non-profit organizations can also apply for Economic Injury Disaster Loans to meet working capital needs caused by the disaster. The deadline for working capital loan applications is Nov. 25, 2020.
- Owners of rental properties may apply for a business loan.
"assistance" - Google News
March 12, 2020 at 02:58AM
https://ift.tt/2Qak5ES
SBA Offers Disaster Assistance to Businesses and Residents of New York and Contiguous Vermont Counties Affected by Severe Storms, Flooding and Straight-Line Winds - vtdigger.org
"assistance" - Google News
https://ift.tt/2Ne4zX9
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "SBA Offers Disaster Assistance to Businesses and Residents of New York and Contiguous Vermont Counties Affected by Severe Storms, Flooding and Straight-Line Winds - vtdigger.org"
Post a Comment