DAYTONA BEACH, Fla. – Thursday is the deadline to apply for federal aid if you were affected by Hurricane Ian. With the deadline to apply for federal aid for Hurricane Ian victims, one option for those looking to get help is a low-interest loan from the government.
What you need to know
- On Monday, the Small Business Administration-Business Recovery Center opens at the Daytona Beach Library on Jackie Robinson Parkway.
- People can fill out SBA loan applications before the deadline to receive federal aid due to Hurricane Ian.
- The new center at the library will be open Monday through Thursday from 9 am to 6 pm and Friday and Saturday from 9 am to 5 pm.
On Monday, the Small Business Administration-Business Recovery Center will open at the Daytona Beach Library on Jackie Robinson Parkway. People can fill out SBA loan applications. The center receives documents for previously submitted applications, keeps people up-to-date on application status and assists with reconsideration requests. Homeowners, renters, business owners, and nonprofits can all take advantage of these loans.
“Businesses can borrow money to repair their buildings, replace their equipment, supplies, and damage caused by the hurricane,” said Laurie Dana, public affairs specialist for the U.S. Small Business Administration.
In some cases, the business can apply for a loan if it has not only physical damage but also financial loss.
“Small businesses can borrow working capital to cover their hurricane losses,” Dana added. “If people can’t find them, the power’s out, they’re experiencing financial loss, they can also apply for an economic injury disaster loan, and they don’t need to be physically injured to apply for an economic injury disaster loan.”
According to Dana, for those who work with their insurance company, they can still apply for the loan even if it is not settled.
More than 7,000 homes were damaged by Hurricane Ian, causing more than $375 million in damage, according to Volusia County officials. The SBA still offers an affordable option for those in need of recovery assistance.
“Interest rates are as low as 2.188% for homeowners or renters. The interest rate for the first year is 0% and the first payment can be delayed for up to one year, said Dana. “We are trying to make it as affordable as possible to complete the disaster loan.”
The new center at the library will be open Monday through Thursday from 9 am to 6 pm and Friday and Saturday from 9 am to 5 pm. They are closed on Sunday.