FREDERIKSTED – The U.S. Small Business Administration (SBA) announced today the opening of an SBA Disaster Loan Outreach Center (DLOC) at the Emile Henderson Sr. Fire Station, 53 & 54 B Queen St., Frederiksted, St. Croix, USVI on Tuesday, May 1. SBA staff remains in the Virgin Islands and continues to assist survivors impacted by hurricanes Irma and Maria.
SBA representatives at the Centers can provide information about disaster loans, answer questions and assist survivors complete their SBA application. The locations and hours of operation for the Centers are indicated below and will operate until further notice.
SBA Disaster Loan Outreach Centers (DLOC)
Hours: Monday – Friday, 8 a.m. – 5 p.m.; Saturday, 9 a.m. – 2 p.m.
Closed Sundays
SBA disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters to cover uninsured losses from the disaster. Interest rates are as low as 3.305 percent for businesses, 2.5 percent for private nonprofit organizations, and 1.75 percent for homeowners and renters. Loan terms can be up to 30 years.
Economic injury disaster loans are also available to provide disaster related working capital to small businesses and most private nonprofit organizations. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.
Additional information on the disaster loan program may be obtained by calling SBA’s Customer Service Center at 800-659-2955 (800)-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected]
Loan applications can be downloaded from sba.gov Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov
Completed applications should be returned to a recovery center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
For more information about SBA recovery assistance, visit sba.gov/disaster
The filing deadline to submit applications for economic injury applications is June 7, 2018 for Hurricane Irma and June 20, 2018 for Hurricane Maria.
