In-Brief

SBA opens disaster loan outreach center in Vega Baja

SBA-LogoThe U.S. Small Business Administration announced the opening of a Disaster Loan Outreach Center in Vega Baja, today at 9 a.m. This Center will provide one-on-one assistance to homeowners, renters and business owners seeking disaster assistance for losses caused by the heavy rains and flooding on Nov. 12–13, 2012, agency officials said.

“SBA’s customer service representatives will be on hand at the center to assist survivors with completing their applications,” said Frank Skaggs, director of SBA Field Operations Center East.

The Center at the Vega Baja Municipal Auditorium in Tortuguero and will operate from 9 a.m. to 6:30 p.m. through Friday.

“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” Skaggs added.

“Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said Francisco Marrero, SBA’s Puerto Rico acting district director.

The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.

Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela. The filing deadline to return applications for physical property damage is March 4, 2013.  The deadline to return economic injury applications is October 3, 2013.

Author Details
Business reporter with 25 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other areas of the economy.

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