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SBA approves more than $1B in disaster loans in P.R.

The U.S. Small Business Administration announced that more than $1 billion in low-interest disaster loans has been approved for 28,106 Puerto Rico residents and businesses recovering in the aftermath of Hurricanes Irma and María, which struck in September 2017.

“Recovery for Puerto Rico has a long way to go. The SBA is still on the ground, making sure that island residents and businesses are getting the help they need to rebuild,” SBA Administrator Linda McMahon said.

“The agency will continue its outreach to make sure those who need the help are aware of the long-term recovery assistance that’s available,” she said.

“Meanwhile, SBA mobile business recovery centers have visited all 78 Puerto Rico municipalities, with 4,500 business owners attending sessions to learn about SBA disaster assistance and  get help with online disaster loan applications,” McMahon added.

The filing deadline for physical property damage disaster loan applications for Hurricanes Irma and María is March 20, 2018.  The deadline to return economic injury disaster loan applications is June 11, 2018 for Hurricane Irma, and June 20, 2018 for Hurricane María, the agency announced.

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This story was written by our staff based on a press release.

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