SBA Disaster Assistance for Businesses and Residents Adds More Georgia Counties for Hurricane Irma Recovery

ATLANTA – The U.S. Small Business Administration now includes additional counties to the disaster declaration in Georgia due to Hurricane Irma that began on Sept. 7-20, 2017.
The disaster declaration covers the counties of Camden, Charlton, Chatham, Coffee, Glynn, Liberty and McIntosh counties in Georgia, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster
Loans: Atkinson, Bacon, Ben Hill, Berrien, Brantley, Bryan, Effingham, Evans, Irwin, Jeff Davis, Long, Tattnall, Telfair, Ware and Wayne in Georgia; Baker and Nassau in Florida; and Jasper in South Carolina.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation
improvements may include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Interest rates are as low as 3.305 percent for businesses and 2.5 percent for nonprofit organizations, 1.75 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure
website at https://disasterloan.sba.gov/ela.
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To be considered for all forms of disaster assistance, applicants should register online at www.DisasterAssistance.gov or on 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 or Video Relay Services may also call 800-621-3362. People who use TTY may call 800-
462-7585.
Additional details on the locations of Disaster Recovery Centers and the loan application process can 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 www.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 www.sba.gov/disaster.
The filing deadline to return applications for physical property damage is Nov. 14, 2017. The deadline to return economic injury applications is June 15, 2018.