SBA approves 32 disaster loans in Danville, Salem

Local News

The U.S. Small Business Administration has approved 32 disaster loans totaling up to $1,093,800.

This was to help homeowners and businesses in Virginia who were impacted last month by Tropical Storm Michael.  

Today is the last day for businesses and residents affected by the storm to apply for a disaster loan. 

The center is located at 515 Main St. and they will be upon until 4 p.m..

SBA says that disaster loans for homeowners in Virginia are as low as 2.00 % and as low as 3.675 % for business of any size depending on credit and ability to repay the loan. 

The U.S. Small Business Administration Office of Diaster Assistance offers low interest disaster loans to homeowners, renters, businesses of all sizes and private, non-profit organizations to repair or replace real estate, personal property, machinery and equipment, inventory, and business assets damaged or destroyed in a declared disaster.

The following information is from the U.S. Small Businesses Administration press release: 

Disaster survivors in Virginia who were impacted by Tropical Storm Michael last month can apply in person at the Disaster Loan Outreach Center (DLOC) listed below, and/or apply online at Disaster survivors can also contact the SBA Customer Service Center at 1-800-659-2955 for more information and to request a loan application packet sent to your home or business.

The deadline to apply for a low-interest loans for Physical Damage is January 14, 2019.

If you have any questions I can be reached on my SBA cell phone at (202) 579-5946.

Here is a link to a fact sheet provided by the SBA:—Disaster-loans

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