Homes and businesses throughout the
He expects more will apply before Wednesday, when SBA officials will leave
"People are still trickling in," he said. "I think more people are finding out about it. I just want people to know about it so they don't miss out."
The SBA already had its stay extended once, after an initial surge of applications from
Homeowners, renters, business owners and nonprofit organizations are eligible for SBA disaster loans, and funds from those loans can go toward homeowners and renters' repair costs and replacing damaged or destroyed personal property.
Residents in unincorporated
Homeowners are eligible for up to
Businesses and nonprofits can borrow up to
Interest rates on the loans can be as low as 4 percent for businesses, 2.75 percent for nonprofits and 1.75 percent for homeowners and renters. Those loans can be paid off over a maximum of 30 years. Rates and loan terms are based on each applicant's financial situation.
According to the SBA, the loans have been made available in response to a letter from Gov.
For some, the loans were the last of several exhausted options, as
"We are one of the only communities who have received a (disaster) declaration," Hamilton said, noting that some cities affected by springtime flooding from the
Choudhury said the program is a chance for residents to get back on their feet. But, he added, it may not be for everyone.
"It's a really good program," Choudhury said. "But if it's not good for them (residents) and they do the math and decide its not for them, that's fine."
Businesses and individuals may obtain information and loan applications by calling
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