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Sussex County Residents Eligible for SBA Loans for “Sandy” Repairs

Delaware Emergency Management Agency | News | Date Posted: Friday, January 4, 2013



(Smyrna) – The United States Small Business Administration (SBA) has announced that because Sussex County, Delaware is contiguous to Worcester County, Maryland, which was the primary Maryland county adversely affected by Hurricane Sandy, homeowners, businesses, and non-profit organization in Sussex County can apply for special SBA loans.  Two counties in Maryland (Somerset and Wicomico) and one in Virginia (Accomack) also qualify because they are contiguous to Worcester County, Maryland.

The loans for physical damage repairs or to compensate for economic injury have special low interest rates.  Applicant categories and specific interest rates for each category are shown below:

FOR PHYSICAL DAMAGE RATE

Homeowners with credit available elsewhere                                                                           3.375

Homeowners without credit available elsewhere                                                                      1.688

Businesses with credit available elsewhere                                                                              6.000

Businesses without credit available elsewhere                                                                         4.000

Non-Profit organizations with credit available elsewhere                                                          3.125

Non-Profit organizations without credit available elsewhere                                                     3.000

FOR ECONOMIC INJURY RATE

Businesses & Small Agricultural Cooperatives without credit available elsewhere                   4.000

Non-Profit organizations without credit available elsewhere                                                      3.000

The deadline for Physical Damage Loan applications is March 4, 2013.  Economic Injury Loan applications must be submitted by the October 2, 2013 deadline.  Applications can be filed by using the Electronic Loan Application available at the SBA’s secure website (https://disasterloan.sba.gov/ela).  Loan forms and information can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for hearing impaired callers), or by sending an email to disastercustomerservice@sba.gov.

Applicants can also download an application from the Small Business Administration website (www.sba.gov).  Completed applications submitted via mail should be sent to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

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Sussex County Residents Eligible for SBA Loans for “Sandy” Repairs

Delaware Emergency Management Agency | News | Date Posted: Friday, January 4, 2013



(Smyrna) – The United States Small Business Administration (SBA) has announced that because Sussex County, Delaware is contiguous to Worcester County, Maryland, which was the primary Maryland county adversely affected by Hurricane Sandy, homeowners, businesses, and non-profit organization in Sussex County can apply for special SBA loans.  Two counties in Maryland (Somerset and Wicomico) and one in Virginia (Accomack) also qualify because they are contiguous to Worcester County, Maryland.

The loans for physical damage repairs or to compensate for economic injury have special low interest rates.  Applicant categories and specific interest rates for each category are shown below:

FOR PHYSICAL DAMAGE RATE

Homeowners with credit available elsewhere                                                                           3.375

Homeowners without credit available elsewhere                                                                      1.688

Businesses with credit available elsewhere                                                                              6.000

Businesses without credit available elsewhere                                                                         4.000

Non-Profit organizations with credit available elsewhere                                                          3.125

Non-Profit organizations without credit available elsewhere                                                     3.000

FOR ECONOMIC INJURY RATE

Businesses & Small Agricultural Cooperatives without credit available elsewhere                   4.000

Non-Profit organizations without credit available elsewhere                                                      3.000

The deadline for Physical Damage Loan applications is March 4, 2013.  Economic Injury Loan applications must be submitted by the October 2, 2013 deadline.  Applications can be filed by using the Electronic Loan Application available at the SBA’s secure website (https://disasterloan.sba.gov/ela).  Loan forms and information can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for hearing impaired callers), or by sending an email to disastercustomerservice@sba.gov.

Applicants can also download an application from the Small Business Administration website (www.sba.gov).  Completed applications submitted via mail should be sent to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

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