Apply for loans to help with recent storm damage | News
Polk County, FL -- Polk County homeowners and businesses are eligible to apply for low-interest loans to repair damage sustained during the severe weather that impacted the area on March 31.
Polk is included in the disaster declarations resulting from the severe storms, flooding and tornadoes.
Residents who own their own homes, businesses or small agricultural cooperatives located in the disaster area, and who are victims of the disaster may be eligible for financial assistance from the U.S. Small Business Administration.
Three types of disaster loans are available:
- Home Disaster Loans help homeowners or renters repair or replace damaged real estate or personal property.
- Business Physical Disaster Loans for businesses to repair or replace damaged property, including real estate, inventories, supplies, machinery and equipment.
- Economic Injury Disaster Loans (EIDLs) are working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, non-profit organizations meet their ordinary an d necessary financial obligations that cannot be met as a direct result of the disaster.
The SBA can loan additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Physical damage loan applications are due by the close of business on June 6, 2011 and EIDL applications are due by the close of business on January 1, 2012.
Hearing impaired residents may call 1-800-877-8399. Reference Florida Disaster # FL-00060 and Disaster Declaration # 12519 and 12520.