SBA DISASTER LOAN OUTREACH CENTER OPEN AT CENTRALIA CHAMBER OFFICE
Due to the severe storms and flooding which occurred April 2 - 6 in Marion County and the contiguous counties of Clay, Clinton, Fayette, Jefferson, Washington, and Wayne, the SBA DLOC has opened in the Centralia Chamber of Commerce Conference Room Entrance.
They will be open Wednesday, May 21, through Monday, June 2. The offices will be closed on Monday, May 26, in observance of the Memorial Day Holiday.
The hours of operation are Monday through Friday from 8:00am until 5:00pm, and on Saturdays from 10:00am until 2:00pm.
If you are located in a declared disaster area, you may be eligible for financial assistance from the U.S. Small Business Administration (SBA).
Types of Loans Available
Business Physical Disaster Loans - Loans to businesses to repair or replace disaster-damaged property owned by the business organizations such as charities, private universities, etc. are also eligible.
Economic Injury Disaster Loans (EIDL) - Working capital loans to help small businesses small agriculture cooperatives, small business engaged in aquaculture, and most private, non-profit organizations of all sizes.
Home Disaster Loans - Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.
What are the Loan Amount
The law limits business loans to $2,000,000.
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.
Help 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, and (3) intends to repair the damage.
For more information, please see the SBA Disaster Recovery Assistance representatives at the Centralia Chamber of Commerce CONFERENCE ROOM at 210 East Broadway, Centralia, IL 62801.
