SBA’s Otsego County Disaster Lending Outreach Center closed on September 21; There is still time to submit applications online | WIVT


Posted:
Update:

From the Small Business Administration of the United States:

ATLANTA – The US Small Business Administration announced today that due to a steady decline in
activity, the Disaster Loan Outreach Center (DLOC) in Otsego County, New York will cease operations
at 4 p.m. on Tuesday, September 21. The SBA opened Business Support Centers and
residents affected by severe storms and floods July 16-19, 2021 in New York City.
“I encourage anyone who has not completed their disaster loan application to visit the center before
closing to meet with a customer service representative for one-on-one assistance, ”said Kem
Fleming, director of the SBA’s Field Operations Center East.
The Center is located and open as shown below:

SBA Disaster Loan Awareness Center (DLOC)
Otsego County
Morris Fire Department
117 Main Street East
Morris, New York State 13808
Last day: Tuesday, September 21, 9 a.m. to 4 p.m.
Permanent closure: Tuesday September 21 at 4 p.m.

Applicants have until the submission deadline to submit an application and can apply online using the
Electronic Loan Application (ELA) through SBA’s secure website
at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA Statement # 17163, not the
COVID-19 incident.

Businesses and private nonprofits can borrow up to $ 2 million to repair or replace
property, machinery and equipment, inventory and other activities damaged or destroyed by a disaster
assets. For small businesses, small agricultural cooperatives, small businesses engaged in
aquaculture and most private non-profit organizations, the SBA offers
Loans (EIDL) to help meet the working capital needs caused by the disaster. EIDL loan assistance is
available whether or not the business has suffered property damage.

“Loans of up to $ 200,000 are available for homeowners to repair or replace damaged or destroyed real estate.
domain. Homeowners and tenants are eligible for loans of up to $ 40,000 to repair or replace
destroyed personal property, ”Kem Fleming, director of the SBA’s Field Operations Center East, told
Atlanta.

Applicants may be eligible for an increase in the loan amount up to 20 percent of their physical damage because
verified by SBA for mitigation. Eligible mitigation enhancements may include a
storm chamber or shelter, sump pump, French drain or retaining wall to help protect property and
occupants from future damage caused by a similar disaster.

Interest rates are as low as 2.88% for businesses, 2% for nonprofits,
and 1.625 percent for owners and tenants, with terms of up to 30 years. Loan amounts and conditions
are set by the SBA and are based on the financial situation of each candidate.

Businesses and individuals can also obtain information and loan applications by calling the SBA.
Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or
by sending an email to [email protected] Loan applications can also be downloaded from
sba.gov/catastrophe. Completed applications should be sent to: US Small Business Administration,
Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline for returning property damage claims is November 8, 2021. The deadline
to return claims for economic damage is June 9, 2022.

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