September 4th deadline for applying for SBA loan after TS Debby

If you suffered damage to your home, business, or rental property during Tropical Storm Debby, the U.S. Small Business Administration wants to remind you that the deadline to submit disaster loan applications is September the 4th.

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.

Businesses and non-profit 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.

Interest rates are as low as 1.9 percent for homeowners and renters, 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years.

The disaster declaration covers Franklin and Wakulla counties and residents are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations in adjacent counties including Gulf, Leon and Liberty counties are eligible to apply only for Economic Injury Disaster Loan.

To apply for disaster assistance, call the Federal Emergency Management Agency at 800-621-FEMA or you can apply online at disasterloan.sba.gov/ela.

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Commissioners, however, said that everyone is going to have to dig deeper.

The board last week asked that its budget office take a look at budgets from every county and constitutional office to see where the cuts can be made.

Commissioner Noah Lockley added that the county will also have to take a close look at non-governmental groups that the county helps fund.  

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