TOPEKA, Kan. (WIBW) – Residents and business owners, affected by the Cottonwood Complex wildfire, can now apply for loans if they are eligible.
The Small Business Administration (SBA) announced on Monday the approval of an administrative declaration. This means residents and business owners in affected Reno, Harvey, Kingman, McPherson, Pratt, Rice, Sedgwick and Stafford counties can apply for a low-interest SBA loan.
Following approval, a Disaster Loan Awareness Center will open Tuesday, April 26 at 1 p.m. Customer service representatives would be available at the awareness center to answer questions about the loan program, explain the application process and help complete applications. The center will then be open from 8 a.m. to 5 p.m. Monday to Friday, until further notice.
The center will be at the Reno co. courthouse, located at 206 W 1st Ave. SBA says no appointment is necessary.
SBA information says businesses of all sizes and private nonprofits can borrow up to $2 million to repair or replace real estate, machinery, equipment, inventory and other assets. business damaged or destroyed.
The SBA offers an Economic Disaster Loan to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, to help meet the needs of working capital caused by the disaster. For homeowners, the SBA offers disaster loans of up to $200,000 to repair or replace damaged or destroyed real estate. Landlords and tenants can also receive up to $40,000 to repair damaged or destroyed personal property.
Loan interest rates can be approximately 2.94% for businesses, 1.875% for private non-profit organizations, and 1.438% for homeowners and tenants with loan terms up to 30 years . The SBA sets loan amounts and terms based on the financial conditions the applicant faces.
To apply for a home loan, the deadline is June 21, 2022, while the deadline for the economic injury loan is January 23, 2023.
“Natural disasters disrupt families and businesses in so many ways,” said Angee Morgan, assistant director of Kansas’s Emergency Management Division. “These SBA disaster loans will help get people and businesses back on their feet faster.”
Interested applicants can apply online and upload applications here. Applicants can also learn more about disaster assistance by calling the SBA Customer Service Center at (800) 659-2955 or emailing [email protected] Residents who are hard of hearing, deaf or have a speech impediment can call 711 to call telecommunications relay services.
The SBA says to mail completed applications, send them to:
US Small Business Administration
Processing and disbursement center
14925 Kingsport Road.
Fort Worth, Texas 76155
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