SBA Opening Disaster Loan Outreach Center in Montgomery County, Maryland for Businesses and Residents Affected by Remnants of Tropical Storm Ida
The U.S. Small Business Administration (SBA) is?opening a temporary Disaster Loan Outreach Center (DLOC) in Montgomery County, Maryland, to help local businesses and residents impacted by remnants of Tropical Storm Ida submit applications for disaster loan assistance.
Eligible jurisdictions in the Washington Metropolitan Area include Montgomery and Prince George's Counties in Maryland; the District of Columbia; and Arlington, Fairfax and Loudoun Counties in Virginia. Qualifying incidents must have occurred between August 31, 2021 and September 4, 2021.
The DLOC in Montgomery County will open at the Twinbrook Library (202 Meadow Hall Drive, Rockville, MD 20851) beginning at 12:00pm (ET) on Monday, October 25, 2021. The Center closes permanently at 4:00pm (ET) on Friday, November 5 (see operating hours below).
The SBA encourages impacted businesses of all sizes, non-profit organizations, homeowners, and renters to visit the DLOC to have questions answered about the program and to receive one-on-one assistance in completing the disaster loan application.
The Montgomery County DLOC will be open (Eastern Time Zone):
Monday, October 25, 2021 -- 12:00pm to 6:00pm
Tuesday, October 26, 2021 -- 12:00pm to 8:00pm
Wednesday, October 27, 2021 -- 10:00am to 6:00pm
Thursday, October 28, 2021 -- 12:00pm to 8:00pm
Friday, October 29, 2021 -- 10:00am to 6:00pm
Saturday, October 30, 2021 -- 10:00am to 2:00pm
Sunday, October 31, 2021 -- CLOSED
Monday, November 1, 2021 -- 10:00am to 6:00pm
Tuesday, November 2, 2021 -- 12:00pm to 8:00pm
Wednesday, November 3, 2021 -- 10:00am to 6:00pm
Thursday, November 4, 2021 -- 12:00pm to 8:00pm
Friday, November 5, 2021 -- 10:00am to 4:00pm (the Montgomery County DLOC will close permanently on November 5 at 4:00pm)
Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the DLOC are encouraged to wear a face mask.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by a declared disaster. EIDL assistance is available for businesses that sustained physical property damage and/or economic damage.
?Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,? said Kem Fleming, Director of SBA?s Field Operations Center-East in Atlanta, Georgia.
Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates for this loan program are as low as 2.855 percent for businesses, 2 percent for nonprofit organizations, and?1.563 percent for homeowners and renters, with repayment terms of up to 30 years. Loan amounts and terms are established by the SBA and are based on each applicant?s financial condition.
Applicants who apply online using the secure Electronic Loan Application (ELA) portal at https:/DisasterLoanAssistance.sba.gov/ela/s should do so under SBA declaration #17229 and not under the COVID-19 incident.
Disaster loan information and application forms may also be obtained by calling the SBA?s Disaster Assistance Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or emailing [email protected]. Loan application forms may be downloaded at https://disasterloanassistance.sba.gov/ela/s/article/Paper-Forms.?Completed paper applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is December 17, 2021. The deadline to return economic injury applications is July 18, 2022.
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DISCLAIMER: All SBA programs and services are extended to the public on a nondiscriminatory basis.?This website is provided as a public service. It is not an official U.S. government website and it may contain links to non-U.S. government information. Inclusion of such links does not constitute or imply an endorsement by SBA. SBA is not responsible for the content, accuracy, relevance, timeliness or completeness of linked information. Please use caution when considering a product, service or opinion offered by a linked website.
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