Disaster Loan Outreach Centers Open Until Thursday

April 17, 2016

Disaster Loan Outreach Centers will open through Thursday in Century and Pensacola to assist tornado victims.

The loans from the U.S. Small Business Administration will be available to business, non-profits, churches an individuals that suffered physical or economic losses as result of the EF-3 tornado on February 15 in the Century area or the February 23 EF-3 tornado in the Pensacola area.

The Century Disaster Loan Outreach Center will be at the Century Business Center at 140 East Pond Street will be open 8 a.m. until 5 p.m. Monday-Wednesday and until final closing at 3 p.m. on Thursday, April 21.

The Pensacola location will be open at the West Florida Regional Planning Council office at 4081 East Olive Road, Suite A. The office will be open from 8 a.m. to 5 p.m. Monday-Wednesday and until final closing at 3 p.m. on Thursday, April 21.

Both locations will be closed on Sunday.

The types of loans available include:

  • Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and  equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
  • Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
  • Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

Applicants must have a credit history acceptable to the SBA and the ability to repay all loans. Collateral is required for physical loss or economic injury disaster loans over $25,000. Loan terms range up to 30 years with interest rates from 1.813 to 6.25 percent.

Only uninsured or otherwise uncompensated disaster losses are eligible.

The deadline to apply for physical damage assistance if June 6; the deadline for economic injury assistance applications is January 9, 2017.

The loans are also available in the contiguous Florida county of Santa Rosa and the contiguous Alabama counties of Escambia and Baldwin.

NorthEscambia.com photos, click to enlarge.


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Written by William Reynolds · Filed Under News