{"id":12449,"date":"2018-07-27T17:37:05","date_gmt":"2018-07-27T21:37:05","guid":{"rendered":"http:\/\/news.maryland.gov\/mema\/?p=12449"},"modified":"2018-07-27T17:42:56","modified_gmt":"2018-07-27T21:42:56","slug":"sba-offers-disaster-assistance-to-businesses-and-residents-of-maryland-affected-by-may-flooding","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/mdem\/2018\/07\/27\/sba-offers-disaster-assistance-to-businesses-and-residents-of-maryland-affected-by-may-flooding\/","title":{"rendered":"SBA Offers Disaster Assistance to Businesses and Residents of\u00a0Maryland Affected by May Flooding\u00a0\u00a0"},"content":{"rendered":"

\"\"<\/a>
\nWASHINGTON\u00a0<\/b>(July 27, 2018<\/span><\/span>)<\/b>\u2013 Maryland businesses and residents affected by severe flooding in Baltimore City and Howard County on May 27, 2018, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.<\/p>\n

Administrator McMahon made the loans available in response to a letter from Gov. Larry Hogan on
\nJuly 23, requesting a disaster declaration by the SBA. \u00a0The declaration covers Baltimore City and Howard County, and the adjacent counties of Anne Arundel, Baltimore, Carroll, Frederick, Montgomery and Prince George\u2019s in\u00a0Maryland.<\/p>\n

\u201cThe SBA is strongly committed to providing the people of\u00a0Maryland\u00a0with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,\u201d said McMahon. \u201cGetting businesses and communities up and running after a disaster is our highest priority at SBA.\u201d<\/p>\n

SBA\u2019s Customer Service Representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.<\/p>\n

The three Centers are located in the following communities and are open as indicated:<\/p>\n

Baltimore City<\/u><\/b>
\nStillmeadow Evangelical Free Church
\n5110 Frederick Ave.
\n<\/a>Baltimore, MD 21229<\/a>
\nOpening: \u00a0Tuesday, July 31 at 11 a.m.<\/span><\/span>
\nHours: \u00a09 a.m. \u2013 6 p.m.<\/span><\/span>, weekdays
\nSaturday, Aug. 4 from 10 a.m. to 2 p.m.<\/span><\/span>
\nClosed: \u00a0Sunday, Aug. 5<\/span><\/span>
\nCloses: \u00a0Tuesday, Aug. 7 at 4 p.m.<\/span><\/span><\/p>\n

Howard County<\/u><\/b>
\nBaltimore & Ohio Ellicott City Station Museum
\n3711 Maryland Ave.
\n<\/a>Ellicott City, MD 21043<\/a>
\nOpening: \u00a0Tuesday, July 31 at 11 a.m.<\/span><\/span>
\nHours: \u00a09 a.m. \u2013 6 p.m.<\/span><\/span>, weekdays
\nSaturday, Aug. 4 from 10 a.m. to 2 p.m.<\/span><\/span>
\nClosed: \u00a0Sunday, Aug. 5<\/span><\/span>
\nCloses: \u00a0Tuesday, Aug. 7 at 4 p.m.<\/span><\/span><\/p>\n

Baltimore County<\/u><\/b>
\nCatonsville Senior Center
\n501 North Rolling Road
\n<\/a>Catonsville, MD 21228<\/a>
\nOpening: \u00a0Tuesday, July 31 at 11 a.m.<\/span><\/span>
\nHours: \u00a09 a.m. \u2013 6 p.m.<\/span><\/span>, weekdays
\nSaturday, Aug. 4 from 10 a.m. to 2 p.m.<\/span><\/span>
\nClosed: \u00a0Sunday, Aug. 5<\/span><\/span>
\nCloses:\u00a0 Tuesday<\/span><\/span>, Aug. 7 at 4 p.m.<\/span><\/span><\/p>\n

\u201cBusinesses and private nonprofit organizations may borrow up to $2\u00a0million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,\u201d said SBA\u2019s Maryland District Director Stephen Umberger.<\/p>\n

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. \u00a0Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.<\/p>\n

\u201cLoans 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,\u201d said Kem Fleming, center director of SBA\u2019s Field Operations Center East in Atlanta.<\/p>\n

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. \u00a0Eligible mitigation improvements may include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.<\/p>\n

Interest rates are as low as 3.61 percent for businesses, 2.5 percent for nonprofit organizations, and 1.938 percent for homeowners and renters with terms up to 30 years. \u00a0Loan amount and terms are set by the SBA and are based on each applicant\u2019s financial condition.<\/p>\n

Applicants may apply online using the Electronic Loan Application (ELA) via SBA\u2019s secure website at\u00a0DisasterLoan.sba.gov<\/a>.<\/p>\n

Businesses and individuals may also obtain information and loan applications by calling the SBA\u2019s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing\u00a0disastercustomerservice@sba.gov<\/a>. Loan applications can also be downloaded at\u00a0www.sba.gov<\/a>. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center,\u00a014925 Kingsport Road, Fort Worth, TX 76155<\/a>.<\/p>\n

The filing deadline to return applications for physical property damage is\u00a0Sept. 24, 2018<\/span><\/span>. \u00a0The deadline to return economic injury applications is\u00a0April 25, 2019<\/span><\/span>.<\/p>\n

###<\/p>\n

Contact:\u00a0
Michael Lampton\u00a0
(404) 331-0333\u00a0
Michael.Lampton@sba.gov<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON\u00a0(July 27, 2018)\u2013 Maryland businesses and residents affected by severe flooding in Baltimore City and Howard County on May 27, 2018, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today. Administrator McMahon made the loans available in response to a letter from Gov. Larry Hogan on July  Read the Rest…<\/a><\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[1],"tags":[386,32,33,387,117,121,142,388,389,236,381],"class_list":["post-12449","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-anne-arundel","tag-baltimore","tag-baltimore-city","tag-carroll","tag-flooding","tag-frederick","tag-howard-county","tag-montgomery","tag-prince-georges","tag-sba","tag-small-business-administration"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t