To help those recovering from Super Storm Sandy, the Small Business Administration announced that they stand ready to assist homeowners, renters, and businesses with federal disaster loans to people in affected counties. SBA Disaster loans are direct loans from the SBA.
Excerpt from the SBA’s Announcement:
“The disaster declaration covers the counties of Fairfield, Middlesex, New Haven, New London and the Mashantucket Pequot Tribal Nation and Mohegan Tribal Nation located within New London in Connecticut, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Hartford, Litchfield, Tolland, and Windham in Connecticut; Duchess, Putnam and Westchester in New York; Kent and Washington in Rhode Island. Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property. Businesses and private non-profit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.” To read the entire release, click here.
Call Bob Polito at Webster for Help
We have a great relationship with the SBA, and we’re honored to be the #1 SBA lender in Connecticut for 5 years in a row for extending the most loan volume in total dollars. Please give me a call personally if you are looking to seek one of these loans, as I may be able to help.