SBA Loan Approvals in Florida Surpass $100 Million for Hurricane Wilma Victims13 February 2006
More than $100 million in U.S. Small Business Administration disaster assistance loans have been approved for over 1,560 residents and business owners in Florida who were affected by Hurricane Wilma.
"Our efforts to provide rebuilding loans to the people of Florida are beginning to pay off," said SBA Field Operations Center East Director Frank Skaggs. "The steps we have taken thus far to enhance our loan processing capabilities are allowing us to approve disaster loans much quicker and enable us to get the needed funds in the hands of those victims needing to repair not only their property but their lives as well."
In Florida, the SBA has approved 1,566 disaster loans for $106,527,300. Of that, 225 loans worth $9,131,700 have gone to homeowners and renters and 1,341 loans worth $97,395,600 have gone to businesses.
The interest rates for these loans can be as low as 2.687 percent for homeowners and renters and 4.000 percent for businesses with loan term up to 30 years. Economic Injury Disaster Loans (EIDLs) are available to small business unable to pay bills or meet operating expense because of the disaster with loan limits up to $1.5 million. Actual loan amounts and terms are set by the SBA, and are based on each applicant's financial condition.
Applications and program information are available by calling SBA's Customer Service Center at 800-659-2955 Monday through Saturday during the hours of 8:00 AM to 9:00 PM EST. Business loan applications may also be downloaded from the SBA Website at http://www.sba.gov/disaster.
The deadline for returning applications for economic injury is July 24, 2006. The deadline for physical damage has passed (January 31, 2006).
For more information about the SBA's Disaster Loan Programs, visit our website at http://www.sba.gov/disaster.
Source: prnewswire
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