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Federal disaster loans offered for flood victims

Staff Report~ 9/17/2014

NEW RIVER – The U. S. Small Business Administration is offering aid to residents and business owners whose property was damaged or destroyed by last month’s flood.

The U. S. Small Business Administration has acted under its own authority to declare a disaster in response to a request SBA received from Gov. Jan Brewer on Sept. 3. The disaster declaration makes SBA assistance available in Maricopa County and the neighboring counties of Gila, La Paz, Pima, Pinal, Yavapai, and Yuma.

“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 Arizona District Director Robert J. Blaney. 

SBA representatives will be on hand at the Daisy Mountain Fire Station #141, Monday-Friday, 8 a.m.-5 p.m., from now until further notice to help residents apply for aid. No appointment is necessary.

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 to help meet working capital needs caused by the disaster. 

Applicants may apply online using the Electronic Loan Application) via SBA’s secure Web site at www.disasterloan.sba.gov/ela.  Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 1 (800) 659-2955 or e-mailing disastercustomerservice@sba.gov. 

For more information about SBA’s disaster assistance programs, visit www.sba.gov/disaster.  The filing deadline to return applications for property damage is Nov. 10.