Homeowners may borrow up to $200,000 to repair or replace damaged or destroyed real estate. File photo
The U.S. Small Business Administration's (SBA) deadline for submitting hurricane disaster-relief loan applications is Dec. 4.
The SBA is offering low-interest loans to businesses, private nonprofit organizations, homeowners and renters in Beaufort, Jasper, Colleton and Hampton counties. Businesses and nonprofits may borrow up to $2 million to repair or replace assets damaged by Hurricane Irma.
Economic Injury Disaster Loans help meet working-capital needs resulting from the hurricane. Assistance is available even if a business did not suffer physical damage.
Homeowners may borrow up to $200,000 to repair or replace damaged or destroyed real estate, while loans of up to $40,000 are available for renters and homeowners for personal property replacement and repair.
Those interested can apply online with an electronic loan application at https://disasterloan.sba.gov/ela.
Information and loan applications are also available by calling 800-659-2955. Completed applications can be sent to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
While the deadline for property-damage loans is Dec. 4, applicants have until July 5 next year to apply for economic injury loans.