Don’t Miss the Nov. 4th Deadline for SBA IDA Loans

Posted on October 22, 2021

NOVEMBER 4th DEADLINE TO APPLY FOR PHYSICAL DAMAGE LOANS

SBA Loans for Businesses, Non-Profits, Homeowners & Renters

LATEST SBA BULLETIN – 10-20-21

Was your home or business seriously impacted by Ida?  If you have no flood insurance coverage or even if you do, there may be loan assistance available through the Small Business Administration to help you recover.  In addition to low-cost SBA loans to for-profit or non-profit businesses, there is a SBA loan program available to non-business owners for damage to property you own or rent – your home or property.  Learn more and apply at:

Home and Personal Property Loans (sba.gov)

Business Physical Disaster Loans (sba.gov)

Economic Injury Disaster Loans (sba.gov)

Interest rates are as low as 2.855 percent for businesses, 2 percent for nonprofit organizations, and 1.563 percent for homeowners and renters, with terms up to 30 years.

The filing deadline to return applications for physical property damage is Nov. 4, 2021. The deadline to return economic injury applications is June 6, 2022.

The U.S. Small Business Administration (SBA) has opened a Business Recovery Center at the Somerset County Business Partnership offices to provide businesses with one-on-one assistance in submitting a disaster loan application for damages due to the remnants of Hurricane Ida on Sept. 1-3, 2021. Jack Camp is the Public Affairs Lead for this declaration. Please contact Jack if you have any questions, john.camp@sba.gov.

WHERE: Somerset County Business Partnership, 360 Grove Street, Bridgewater, NJ 08807
HOURS: Monday – Friday, 8 a.m. to 5 p.m. | Saturday, 10 a.m. to 4 p.m.

 

DOWNLOAD BELOW DISASTER LOAN BROCHURE PDF

Disaster Loan 3-Step Process