SBA Opens Business Recovery Center in Richmond County; Adds More Counties to Georgia Declaration

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SBA Opens Business Recovery Center in Richmond County; Adds More Counties to Georgia Declaration

Press Release: FOR IMMEDIATE RELEASE

U.S. SMALL BUSINESS ADMINISTRATION

FACT SHEET - DISASTER LOANS

GEORGIA Declaration 20711 & 20712

(Disaster: GA-20013)

Incident: HURRICANE HELENE

occurring: September 24, 2024 & continuing

in the Georgia counties of: Appling, Atkinson, Bacon, Ben Hill, Berrien, Brooks, Bryan, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Echols, Effingham, Elbert, Emanuel, Evans, Glascock, Glynn, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Tattnall, Telfair, Tift, Toombs, Treutlen, Ware, Washington, Wayne, and Wheeler; for economic injury only in the contiguous Georgia counties of: Baldwin, Bleckley, Brantley, Dodge, Habersham, Hancock, Hart, Henry, Jasper, Lamar, Madison, McIntosh, Mitchell, Monroe, Morgan, Oglethorpe, Rockdale, Spalding, Thomas, Towns, Turner, Twiggs, Walton, Warren, Wilcox, Wilkes, Wilkinson, and Worth; for economic injury only in the contiguous Florida counties of: Baker, Columbia, Hamilton, Jefferson, Madison, and Nassau; for economic injury only in the contiguous North Carolina counties of: Clay, Jackson, and Macon; and for economic injury only in the contiguous South Carolina counties of: Abbeville, Aiken, Allendale, Anderson, Barnwell, Edgefield, Hampton, Jasper, McCormick, and Oconee.

Application Filing Deadlines:

Physical Damage: November 29, 2024

Economic Injury: June 30, 2025

If you are located in a declared disaster area, you may be eligible for financial assistance from the U. S. Small Business Administration (SBA).

What Types of Disaster Loans are Available?

Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

What are the Credit Requirements?

Credit History – Applicants must have a credit history acceptable to SBA.
Repayment – Applicants must show the ability to repay all loans.

What are the Interest Rates?By law, the interest rates depend on whether each applicant has Credit Available Elsewhere. An applicant does not have Credit Available Elsewhere when SBA determines the applicant does not have sufficient funds or other resources, or the ability to borrow from non-government sources, to provide for its own disaster recovery. An applicant, which SBA determines to have the ability to provide for his or her own recovery is deemed to have Credit Available Elsewhere. Interest rates are fixed for the term of the loan. The interest rates applicable for this disaster are:

Physical Damage Loan Types	No Credit Available Elsewhere	Credit Available Elsewhere
Home Loans	2.813%	5.625%
Business Loans	4.000%	8.000%
Non-Profit Organizations	3.250%	3.250%

Economic Injury Loan Types	No Credit Available Elsewhere	Credit Available Elsewhere
Businesses & Small Agricultural Cooperatives	4.000%	N/A
Non-Profit Organizations	3.250%	N/A

What are Loan Terms?

The law authorizes loan terms up to a maximum of 30 years. However, the law restricts businesses with credit available elsewhere to a

maximum 7-year term. SBA sets the installment payment amount and corresponding maturity based upon each borrower’s ability to

repay. Borrowers may be required to provide collateral.

What are the Loan Amount Limits?

Business Loans – The law limits business loans to $2,000,000 for the repair or replacement of real estate, inventories, machinery, equipment and all other physical losses. Subject to this maximum, loan amounts cannot exceed the verified uninsured disaster loss.
Economic Injury Disaster Loans (EIDL) – The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. EIDL assistance is available only to entities and their owners who cannot provide for their own recovery from non-government sources, as determined by the U.S. Small Business Administration.
Business Loan Ceiling – The $2,000,000 statutory limit for business loans applies to the combination of physical, economic injury, mitigation and refinancing, and applies to all disaster loans to a business and its affiliates for each disaster. If a business is a major source of employment, SBA has the authority to waive the $2,000,000 statutory limit.
Home Loans – SBA regulations limit home loans to $500,000 for the repair or replacement of real estate and $100,000 to repair or replace personal property. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss.

What Restrictions are there on Loan Eligibility?

Uninsured Losses – Only uninsured or otherwise uncompensated disaster losses are eligible. Any insurance proceeds which are required to be applied against outstanding mortgages are not available to fund disaster repairs and do not reduce loan eligibility. However, any insurance proceeds voluntarily applied to any outstanding mortgages do reduce loan eligibility.
Ineligible Property – Secondary homes, personal pleasure boats, airplanes, recreational vehicles and similar property are not eligible, unless used for business purposes. Property such as antiques and collections are eligible only to the extent of their functional value. Amounts for landscaping, swimming pools, etc., are limited.
Noncompliance – Applicants who have not complied with the terms of previous SBA loans may not be eligible. This includes borrowers who did not maintain flood and/or hazard insurance on previous SBA loans.

Note: Loan applicants should check with agencies / organizations administering any grant or other assistance program under this

declaration to determine how an approval of SBA disaster loan might affect their eligibility.

Is There Help with Funding Mitigation Improvements?

If your loan application is approved, you may be eligible for additional funds to cover the cost of improvements that will protect your property against future damage. Examples of improvements include retaining walls, seawalls, sump pumps, etc. Mitigation loan money would be in addition to the amount of the approved loan but may not exceed 20 percent of total amount of physical damage to real property, including leasehold improvements, and personal property as verified by SBA to a maximum of $500,000 for home loans. It is not necessary for the description of improvements and cost estimates to be submitted with the application. SBA approval of the mitigating measures will be required before any loan increase.

Is There Help Available for Refinancing?

SBA can refinance all or part of prior mortgages that are evidenced by a recorded lien, when the applicant (1) does not have credit available elsewhere, (2) has suffered substantial uncompensated disaster damage (40 percent or more of the value of the property or 50% or more of the value of the structure), and (3) intends to repair the damage.
Businesses – Business owners may be eligible for the refinancing of existing mortgages or liens on real estate, machinery and equipment, up to the amount of the loan for the repair or replacement of real estate, machinery, and equipment.
Homes – Homeowners may be eligible for the refinancing of existing liens or mortgages on homes, up to the amount of the loan for real estate repair or replacement.

What if I Decide to Relocate?

You may use your SBA disaster loan to relocate. The amount of the relocation loan depends on whether you relocate voluntarily or involuntarily. If you are interested in relocation, an SBA representative can provide you with more details on your specific situation.

Are There Insurance Requirements for Loans?

To protect each borrower and the Agency, SBA may require you to obtain and maintain appropriate insurance. By law, borrowers whose damaged or collateral property is located in a special flood hazard area must purchase and maintain flood insurance. SBA requires that flood insurance coverage be the lesser of 1) the total of the disaster loan, 2) the insurable value of the property, or 3) the maximum insurance available.

Applications for disaster loans may be submitted online using the MySBA Loan Portal at https://lending.sba.gov or other locally announced locations. Please contact the SBA’s Customer Service Center by email at disastercustomerservice@sba.gov or by phone at 1-800-659-2955 for further assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

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Centro de Operaciones del Este por Desastres

Fecha: 9 de octubre de 2024

Contacto: Mark Ihenacho (404) 331-0333 - Mark.Ihenacho@sba.gov

Comunicado Nro.: 25-015, FL 20711/20712

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La SBA abre un Centro de Recuperación de Negocios en el condado de Richmond; Agrega más condados a la Declaración de Georgia

ATLANTA – La Agencia Federal de Pequeños Negocios (SBA, por sus siglas en inglés) anunció la apertura de un segundo Centro de Recuperación de Negocios en la Comisión Regional de CSRA en Augusta. La SBA está abriendo el Centro para ayudar a las empresas y residentes que fueron afectados por los huracanes Helene, dando a más empresas y residentes la elegibilidad para solicitar el programa de préstamos por desastre a bajo interés de la SBA. La SBA también agregó condados adicionales a la declaración, haciendo que sus préstamos por desastre a bajo interés estén disponibles para más georgianos.

Los representantes de servicio al cliente de la SBA están en todos los Centros de Recuperación por Desastre de FEMA, así como en sus dos Centros en Georgia, donde los sobrevivientes pueden obtener ayuda con su solicitud de préstamo por desastre de la SBA. Los representantes de servicio al cliente de la SBA pueden responder preguntas, ayudar a los sobrevivientes a completar su solicitud de préstamo por desastre, aceptar documentos y proporcionar actualizaciones sobre el estado de una solicitud. Se aceptan visitas sin cita previa, pero puede programar una cita con anticipación. El horario de atención de los Centros de la SBA es el siguiente:

Centro de Recuperación de Negocios (BRC) Condado de Lowndes Centro Turner para las Artes, Anexo de Arte 601 Calle Patterson Norte Valdosta, GA 31601 Horario: de lunes a viernes, de 9 a.m. a 6 p.m. Sábado, de 9 a.m. a 4 p.m. Cerrado: Domingo	Centro de Recuperación de Negocios (BRC) Condado de Richmond Comisión Regional de CSRA 3626 Walton Way Ext, Suite 1 Augusta, GA 30909 Horario: de lunes a viernes, de 9 a.m. a 6 p.m. Sábado, de 9 a.m. a 4 p.m. Cerrado: Domingo

Con los nuevos condados agregados, la declaración de desastre ahora cubre Appling, Atkinson, Bacon, Ben Hill, Berrien, Bryan, Brooks, Bulloch, Burke, Butts, Camden, Candler, Charlton, Chatham, Clinch, Coffee, Colquitt, Columbia, Cook, Echols, Effingham, Elbert, Emanuel, Evans, Glascock, Glynn, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Lincoln, Long, Lowndes, McDuffie, Montgomery, Newton, Pierce, Rabun, Richmond, Screven, Tattnall, Telfair, Tift, Toombs, Treutlen, Ware, Washington, Wayne y Wheeler; que son elegibles para Préstamos por Desastre por Daños Físicos y Económicos de la SBA. Las pequeñas empresas y la mayoría de las organizaciones privadas sin fines de lucro en los siguientes condados adyacentes son elegibles para solicitar solo Préstamos por Desastre por Pérdidas Económicas (EIDL) de la SBA: Baldwin, Bleckley, Brantley, Dodge, Habersham, Hancock, Hart, Henry, Jasper, Lamar, Madison, McIntosh, Mitchell, Monroe, Morgan, Oglethorpe, Rockdale, Spalding, los condados de Thomas, Towns, Turner, Twiggs, Walton, Warren, Wilcox, Wilkes, Wilkinson y Worth en Georgia; Baker, Columbia, Hamilton, Jefferson, Madison y Nassau en Florida; Clay, Jackson y Macon en Carolina del Norte; y Abbeville, Aiken, Allendale, Anderson, Barnwell, Edgefield, Hampton, Jasper, McCormick y Oconee en Carolina del Sur.

Con los cambios en la Secuencia de Entrega de FEMA, ahora se exhorta a los sobrevivientes a solicitar simultáneamente las subvenciones de FEMA y la asistencia de préstamos por desastre a bajo interés de la SBA para recuperarse por completo. Las subvenciones de FEMA están destinadas a cubrir los gastos necesarios y las necesidades graves que no son pagadas por el seguro u otras fuentes. El programa de préstamos por desastre de la SBA está diseñado para su recuperación a largo plazo, para que se recupere y vuelva a su condición anterior al desastre. No espere la decisión de una subvención de FEMA; solicite en línea y reciba información adicional sobre asistencia por desastre en sba.gov/disaster.

Los solicitantes también pueden llamar al Centro de Servicio al Cliente de SBA al (800) 659-2955 o enviar un correo electrónico a disastercustomerservice@sba.gov para obtener más información sobre la asistencia por desastre de SBA. Para las personas sordas, con dificultades auditivas o discapacidades del habla, marquen 7-1-1 para acceder a los servicios de retransmisión de telecomunicaciones.

La fecha límite de presentación para devolver las solicitudes por daños a la propiedad física es el 29 de noviembre de 2024. La fecha límite para devolver las solicitudes por pérdidas económicas es el 30 de junio de 2025.

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Acerca de la Agencia Federal de Pequeños Negocios (SBA, por sus siglas en inglés)

La Agencia Federal de la PequeñosNegocios (SBA, por sus siglas en inglés) ayuda a impulsar el sueño americano de ser propietario de un negocio. Como el único recurso y voz para las pequeñas empresas respaldado por la fortaleza del gobierno federal, la SBA empodera a los empresarios y propietarios de pequeñas empresas con los recursos y el apoyo que necesitan para iniciar, hacer crecer o expandir sus negocios, o recuperarse de un desastre declarado. Ofrece servicios a través de una extensa red de oficinas de campo de la SBA y asociaciones con organizaciones públicas y privadas. Para obtener más información, visite www.sba.gov.

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