ALEXANDRIA – Today Delegate David Englin (D-Alexandria) issued the following statement in response to the U.S. Small Business Administration’s approval of Governor Kaine’s request for disaster assistance for homeowners, renters, and businesses who suffered damage in the recently declared disaster that includes the flooding in Huntington and other parts of the 45th District:
“I appreciate the Small Business Administration doing the right thing and approving this aid. For many of our people, these loans will make a critical difference toward rebuilding their homes and their lives.”
“Earlier today I traveled to Richmond and met with Michael Cline, the Virginia Department of Emergency Management’s State Coordinator, to discuss what more we can do to help people in the aftermath of the flood. While people in Huntington need the most help, Mr. Cline confirmed that anyone in our area who suffered damage — including residents of the City of Alexandria and Arlington County — may now apply for a low-interest loan from the Small Business Administration. Even if you think you cannot afford to repay one of these loans, it is important that you complete an application, since that is a necessary step toward being eligible for other forms of assistance that may become available. I know there are some families for whom even these loans will be financially out of reach, and we are exploring other ways to help them. In the meantime, I urge everyone who needs assistance to apply for one of these loans.”
Further SBA loan details and how to apply:
There are two types of SBA low-interest residential loans for which individuals can apply. Homeowners are eligible for Real Property Loans of up to $200,000 to repair or restore a primary home to its pre-disaster condition. Personal Property Loans can also provide homeowners or renters with up to $40,000 to help repair or replace personal property, such as clothing, furniture and automobiles lost in the disaster.
In addition, businesses suffering damage can apply for loans to help repair or replace damaged property as well as for loss of business.
Interest rates for homeowners and renters range from 2.937 to 5.875 percent depending on credit availability. Rates for businesses and nonprofit organizations range from 4 to 7.763 percent depending on credit availability.
Fairfax County announced that it will open a Disaster Loan Assistance Center on Monday, August 21 at 10 a.m. at the South County Government Center at 8350 Richmond Highway. The Center will remain open Monday though Friday from 10 a.m. until 7 p.m., until further notice and for one Saturday only, August 26, from 9 a.m. until 4 p.m.
The City of Alexandria and Arlington County Disaster Loan Assistance Center will open Wednesday, August 23 at the Arlington Parks and Recreation Building, 3700 South Four Mile Run Drive, Arlington. It will be open 10 a.m. to 7 p.m., Monday through Friday.
Anyone unable to visit one of the Disaster Loan Assistance Centers may obtain applications by calling the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired), Monday through Saturday from 8:00 a.m. until 9:00 p.m. More information about the SBA’s Disaster Loan Programs is available at http://www.sba.gov/disaster.
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