SBA tops $5Mil in disaster assistance loans
Sacramento, CA — Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced this week that SBA has approved more than $5 million in federal disaster loans for American Samoa businesses and residents impacted by Tropical Storm Gita that occurred Feb. 7-12, 2018.
According to Gar eld, SBA has approved $495,200 for businesses and $4,597,600 for residents to help rebuild and recover from this disaster.
Gar eld said, “Although the deadline to apply for property damage loans has expired, small businesses and most private nonpro t organiza- tions of any size may continue to apply for an Economic Injury Disaster Loan to help meet working capital needs caused by the disaster. Economic injury assistance is available regard- less of whether the business or nonpro t organi- zation suffered any property damage.”
SBA continues to provide one-on-one assis- tance to disaster loan applicants at the following location on the days and times indicated.
No appointment is necessary: DRC, Dept. of Youth and Women’s Affairs in Pago Pago, Monday- Saturday from 8.am. - 4 p.m.
Small non-farm businesses, small agri- cultural cooperatives, small businesses engaged in aquaculture and most private nonpro t orga- nizations of any size may qualify for an Eco- nomic Injury Disaster Loan of up to $2 million to help meet nancial obligations and operating expenses which could have been met had the disaster not occurred.
These loans may be used to pay xed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
These low-interest federal disaster loans are available in American Samoa. The interest rate is as low as 3.58% for businesses and 2.5% for private nonpro t organizations with terms up to 30 years. The deadline to submit an Economic Injury Disaster Loan application is Dec. 3, 2018.
Applicants may apply online, receive addi- tional disaster assistance information and down- load applications at https://disasterloan.sba.gov/ ela. Applicants may also call SBA’s Customer Service Center at (800)659-2955 or email disas- tercustomerservice@sba.gov for more informa- tion. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applica- tions should be mailed to U.S. Small Business Administration, Processing and Disbursement Center.