Low-interest federal disaster loans are available to Missouri residents and business owners affected by severe storms, high winds, tornadoes and flooding in St. Charles and St. Louis Counties that occurred May 29 - June 10.
Low-interest federal disaster loans are available to Missouri residents and business owners affected by severe storms, high winds, tornadoes and flooding in St. Charles and St. Louis Counties that occurred May 29 - June 10, U. S. Small Business Administration (SBA) Administrator Karen G.Mills announced today. SBA acted under its own authority to declare a disaster in response to the July 30 request to SBA, following the denial of the state’s request for a major disaster declaration.
The disaster declaration makes SBA assistance available in St. Charles and St. Louis Counties and the neighboring Missouri counties of Franklin, Jefferson, Lincoln and Warren and St. Louis City; and the neighboring Illinois counties of Calhoun, Jersey, Madison, Monroe and St. Clair.
“The U. S. Small Business Administration is strongly committed to providing Missouri with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster,” said Mills. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”
“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster,” said SBA’s St. Louis District Director Dennis Melton. “Beginning Tuesday, August 6, in conjunction with the St. Charles County Government, the St. Louis County Police Department Office of Emergency Management and the St. Louis County Department of Health, SBA will open an SBA Disaster Loan Outreach Center (DLOC) in St. Charles and in Berkeley,” Melton continued.
SBA representatives will be on hand at the centers to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. The centers will be open on the days and times indicated. No appointment is necessary.
ST. CHARLES COUNTY
SBA Disaster Loan Outreach Center
400 N 2nd Street
(on the NE corner of N 2nd Street and Adams Street)
St. Charles, MO 63301
Opens Tuesday, Aug. 6 at 9 am
Hours: 9 am – 6 pm
Mondays through Fridays
The center will close on
Thursday, Aug. 22 at 6 pm
ST. LOUIS COUNTY
SBA Disaster Loan Outreach Center
St. Louis County Department of Health
6121 N Hanley Road, Room 1051
Berkeley, MO 63134
Opens Tuesday, Aug. 6 at 8 am
Hours: 8 am – 5 pm
Mondays through Fridays
The center will close on
Thursday, Aug. 22 at 5 pm
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 1.875 percent for homeowners and renters, 2.875 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster.
The deadline to return applications for property damage is October 1, 2013. The deadline to return economic injury applications is May 2, 2014.