The U.S. Small Business Administration said Monday it has extended the deadline for homeowners, renters, businesses and nonprofit organizations in Puerto Rico to return applications for physical damage caused by Hurricane Irene. Since launching the assistance program in August, the agency has approved more than $3 million in loans.
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The U.S. Small Business Administration guaranteed 656 loans in Puerto Rico and the U.S. Virgin Islands during fiscal year 2011, a 57 percent increase over loans approved during the previous year. The results obtained are due in part to incentives implemented under the Small Business Jobs Act of 2010 and to a renewed commitment from SBA lenders.
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