News Column

Small Business Administration Grants Disaster Assistance to Palm Beach County Area Residents

February 3, 2014

TALLAHASSEE, Fla. , Feb. 3 -- The Florida Division of Emergency Management issued the following news release: The Florida Division of Emergency Management (FDEM) announced today that Florida residents and businesses affected by the storm system that destroyed personal property and businesses on Jan. 9 - 10 can now apply for low-interest disaster loans from the U.S. Small Business Administration . Acting Administrator Jeanne A. Hulit made the loans available in response to a letter from Gov. Rick Scott on Jan. 28 , requesting a disaster declaration by the SBA. The declaration covers Palm Beach County and the adjacent counties of Broward , Glades , Hendry , Martin and Okeechobee . "The SBA declaration and subsequent low-interest loans will be a tremendous benefit to the people affected as they move forward to repair and replace the damage caused by this storm," said FDEM Director, Bryan W. Koon . Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. SBA's customer service representatives are available at the Disaster Loan Outreach Center (DLOC) to answer questions about the disaster loan program and help individuals complete their applications. The DLOC is located in the following community and is open as indicated: Palm Beach County Hagen Ranch Road Branch Library 14350 Hagen Ranch Road Delray Beach, Florida 33446 Opens: Wednesday, Feb. 5 , 9 a.m. Hours: Wednesday, Feb. 5 through Thursday, Feb. 13 , 9 a.m. - 6 p.m. Saturday, Feb. 8 , 9 a.m. to 1 p.m. (closed Sunday) Closing: Thursday, Feb. 13 , at close of business Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, to make improvements that help prevent the risk of future property damage caused by a similar disaster. For small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage. Interest rates are as low as 2.250 percent for homeowners and renters, 2.625 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition. Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at . Individuals and businesses unable to visit the center may also obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing . Loan applications can also be downloaded at . Completed applications should be returned to the 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 March 31, 2014 . The deadline to return economic injury applications is October 30, 2014 . For additional information about severe weather in Florida , and to Get A Plan, visit , Follow FDEM on social media on Twitter at @FLSERT, Instagram @FloridaSERT, Vine @FloridaSERT, Pinterest FloridaSERT and Facebook at and . TNS 24KuanRap-140205-30FurigayJane-4626929 30FurigayJane

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Source: Targeted News Service

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