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At absolutely no cost to apply, no payments for the first year, and an interest rate as low as 1.75 percent, Florida residents and businesses affected by Hurricane Irma are encouraged to apply for U.S. Small Business Administration (SBA) Disaster Assistance. For those impacted by natural disasters, the SBA offers low-interest loans to homeowners, businesses of all sizes, renters and even nonprofits. Don’t wait to hear from other disaster assistance, apply today before the deadlines—November 24, 2017 for Physical Damage, and June 11, 2018 for Economic Injury!
“The hurt of losing a business you’ve worked decades to create, or a home that you purchased for your family through years of work and sacrifice, cannot be put into words,” said Desirée Patno, NAWRB CEO and President. “Single mothers lost their homes, a place of sanctuary and stability for themselves and their children, entrepreneurs running businesses out of their primary residences suffered a dual loss, and family-owned businesses have been forced to replace all equipment. These individuals, and many others with unique circumstances, now have to pick up the pieces and start anew, but they do not have to do so alone. The list of Hurricane Irma victims is long, and it’s essential to connect these Floridians with their disaster assistance resources.”
Business owners can obtain loans of up to $2 million for business physical losses (machinery, property, supplies equipment) and $2 million for economic injury (working capital). Homeowners and renters can receive loans of up to $200,000 to repair or replace real estate (fences, roofs, foundation), and loans reaching $40,000 for personal property losses (automobiles, furniture, clothing).
For Florida Assistance, loan terms can be as long as 30 years and the first repayment is not due for an entire year. Homeowners can receive interest rates as low as 1.75 percent.
To date, SBA lending in Florida following Hurricane Irma has reached $411 million, with $24 million going to business owners. With the SBA lending capacity, the administration is urging businesses and residents to apply for these great lending opportunities.
The deadline to apply for disaster assistance in Florida is November 24, 2017 for Physical Damage and June 11, 2018 for Economic Injury. To learn more about and apply for your disaster assistance options, please visit the Disaster Assistance Page on the SBA website.
With the destructive natural disasters that have shaken states across the U.S. in recent months, homeowners and entrepreneurs are in eager need of disaster assistance to rebuild and recover.
The SBA is a powerful resource for homeowners and business owners getting back on their feet. In Texas alone, SBA low-interest federal disaster loan figures have exceeded $2 billion, helping Texas businesses and resident impacted by Hurricane Harvey.
The National Association of Women in Real Estate Businesses (NAWRB) is a leading voice for women in the housing ecosystem. With the assistance of our Women’s Diversity and Inclusion Leadership Council (NDILC), NAWRB is advocating for women’s gender equality, raising the utilization of women-owned businesses and providing women the tools and opportunities for economic expansion and growth. By increasing women’s homeownership, we can leverage the entrepreneurial strength of women and help bring the awareness of women’s poverty.