WASHINGTON — U.S. Small Business Administration Administrator Maria Contreras-Sweet has vowed to help small businesses damaged by Hurricane Matthew.
"The U.S. Small Business Administration is strongly committed to providing the people of Georgia with the most effective and customer-focused response possible to assist businesses, homeowners and renters with federal disaster loans. Getting businesses and communities up and running after a disaster is our highest priority at SBA," she said.
Numerous counties in Southeast Georgia, including Liberty and Long, were hit by the storm, making small businesses and many private nonprofit organizations eligible for SBA Economic Injury Disaster Loans.
Businesses and nonprofits can apply for up to $2 million to repair or replace disaster damaged real estate, machinery, equipment, inventory, and other assets. Loans for working capital, known as Economic Injury Disaster Loans, are available even if the business did not suffer physical damage. Homeowners can apply for up to $200,000 to repair or replace disaster damaged real estate. Homeowners and renters can apply for up to $40,000 to repair or replace damaged personal property including automobiles.
Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofits, and 1.563 percent for homeowners and renters, with terms up to 30 years.
To be considered for assistance, survivors should register with the Federal Emergency Management Agency at www.DisasterAssistance.gov, by mobile device at m.fema.gov or call the toll-free Helpline at 800-621-3362.