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SBA Opens New Disaster Loans Outreach Center at F’sted Fire Station Tomorrow

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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 disastercustomerservice@sba.gov

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.

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The Author

John McCarthy

John McCarthy

John McCarthy is primarily known for his investigative reporting on the U.S. Virgin Islands. A series of reports beginning in the 1990's revealed that there was everything from coliform bacteria to Cryptosporidium in locally-bottled St. Croix drinking water, according to a then-unpublished University of the Virgin Islands sampling. Another report, following Hurricane Hugo in 1989, cited a Federal Emergency Management Agency (FEMA) confidential overview that said that over 40 percent of the U.S. Virgin Islands public lives below the poverty line. The Virgin Islands Free Press is the only Caribbean news source to regularly incorporate the findings of U.S. Freedom of Information Act requests. John's articles have appeared in the BVI Beacon, St. Croix Avis, San Juan Star and Virgin Islands Daily News. He is the former news director of WSVI-TV Channel 8 on St. Croix.

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