The SBA offers low-interest loans to assist businesses, residents, homeowners, and lessors in the event of a natural disaster.
Washington, DC, USA – From March 30th to April 6th, Tennessee businesses and residents affected by wind, weather, and wildfire can apply for a low-interest disaster loan from the Tennessee government. Guzman. ..
According to the release, businesses and residents in the declared area can now apply for low-interest disaster loans from the SBA. This statement covers Sevier County, Tennessee, adjacent Brandt County, Kokke County, Jefferson County, and Knox County. Haywood and Swain, North Carolina.
In response to a letter from Governor Bill Lee requesting a disaster declaration, Guzman made the loan available.
“The SBA is committed to providing Tennessee people with the most efficient and customer-centric response possible to provide federal disaster loans to businesses, homeowners, and tenants of all sizes. “I will,” said Guzman. “Recovering and operating businesses and communities after a disaster is an SBA’s top priority.”
To help businesses and residents affected by the disaster, SBA will open a Disaster Loan Outreach Center (DLOC) in Seviaville on Thursday, July 21st at noon.
Sevier County: King Family Library, 408 High St., Sevierville, Tennessee, 37862
Doors open: Thursday, July 21st, 12:00 pm to 7:00 pm
Monday, Tuesday, Wednesday, Friday: 9 am-6pm
Last Closed: Thursday, August 4th, 5pm
At DLOC, customer service representatives answer questions about the disaster loan program and help people complete their applications.
“Corporate and private non-profit organizations can borrow up to $ 2 million to repair or replace real estate, machinery, inventory and other business assets damaged or destroyed by a disaster,” said the SBA Tennessee District. Manager La Tanya Channel said.
SBA also offers Economic Disaster Loans (EIDLs) to help meet the working capital needs of small businesses, small-scale agricultural cooperatives, and most private nonprofits caused by disasters.
“Homeowners can take out a loan of up to $ 200,000 to repair or replace damaged or destroyed property. Homeowners and tenants repair or replace damaged or destroyed personal property. We are eligible for a loan of up to $ 400,000 for this, “said Chemfleming, director of SBA. Field Operations Center. It’s in Atlanta.
Applicants may be eligible to increase the loan amount by up to 20% of the physical damage verified by the SBA for mitigation purposes. According to the release, interest rates are 2.94% for businesses, 1.875% for nonprofits, 1.438% for homeowners and tenants, with a maximum duration of 30 years.
Disaster loan information and application forms can be obtained by calling the SBA Customer Service Center (800-659-2955) or by emailing DisasterCustomerService@sba.gov.
The deadline for filing a claim for property damages is September 19, 2002. The deadline for returning financial damages claims is April 20, 2023.