SBA Approves Over $1 Million Disaster Loans In Virgin Islands; Customer Service Representatives Available To Assist Survivors

The U.S. Small Business Administration announced that over $1 million in low-interest disaster loans have been approved for businesses and residents of the Virgin Islands affected by Hurricane Irma.

“Currently, 14 disaster loans have been approved in the amount of $1,328,000 for affected survivors.  The SBA encourages anyone who has not applied to take action right away.  Our mission is to help businesses and residents rebuild and resume their normal lives as quickly as possible,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

SBA Customer Service Representatives are at FEMA’s Disaster Recovery Center to issue loan applications, answer questions and help individuals complete their applications.  The center is located in the following community and is open from 9 a.m. to 6 p.m. daily until further notice: 

Saint Croix

Old Post Office

Church & Company Streets

Christiansted, Saint Croix, VI  00820

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.

To be considered for all forms of disaster assistance, applicants should register online atwww.DisasterAssistance.gov or download the FEMA mobile app.  If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 

711-Relay or Video Relay Services should call 800-621-3362.

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].  Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website athttps://disasterloan.sba.gov/ela.  Loan applications can be downloaded fromwww.sba.gov/disaster.  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. 

The filing deadline to submit applications for physical property damage is Nov. 6, 2017for Hurricane Irma and Nov. 20, 2017 for Hurricane Maria. The deadline for economic injury applications is June 7, 2018 for Hurricane Irma and June 20, 2017 for Hurricane Maria.