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SBA Disaster Loans for Vermont Businesses – deadlines approach

Vermont Car Dealer after Flooding Vermonters are nothing if not resilient. The flooding this spring gave us ample opportunity to demonstrate our mettle. Reactions to the vast water damage caused this spring varied from self-deprecating laughter to crushing tears of despair as homes and businesses were inexorably harmed.

The U.S. Small Business Association is making our Yankee resilience a bit easier to manifest with low interest loans. Interest rates are as low as 2.68% for homeowners, 3% for non-profits and 4% for businesses. The deadlines for these loans are fast approaching: For physical damages such water damage and economic injury leading to loss of business incurred between April 23 and May 9, the deadline to apply is August 15th. For damages incurred during the storms on May 26th and 27th, the deadline is September 6th. In either case, it is high time to apply.

A recent press release from the SBA spells it out:

The disaster declaration covers the Vermont counties of Caledonia and Washington, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Addison, Chittenden, Essex, Lamoille, Orange, and Orleans in Vermont; and Grafton County in New Hampshire.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Call the SBA’s Disaster Assistance Customer Service Center for loan information and application forms at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities), send an email to disastercustomerservice@sba.gov, or download an application at www.sba.gov. Or apply online.

Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

For more information:
– Contact the Vermont District Office of the SBA
– On July 18th, the SBA announced the opening of a Business Recovery Center in Barre, at City Hall, 6 North Main Street.  Open Monday- Friday 8 a.m. to 5 p.m.

 image credit: vpr.net