No one has applied yet for federal loans now available in several North Florida counties affected by heavy rainfall and stormy weather in early July. But, officials offering the disaster assistance loans says there’s still time.
Currently, those identified as needing critical help can get assistance through the Federal Emergency Management Agency. But, if FEMA feels it’s a non-critical situation, they’ll suggest they apply for disaster assistance from the federal Small Business Administration. Holmes, Walton, and Washington Counties already qualified for that type of help and the SBA’s Matt Young says one more has now been added.
“Now, Bay County is included in what we offer our low-interest loans for physical damages a private not-profit organization might have had as well as our Economic Injury Disaster Loans to help that private not-profit with their ongoing operating expenses, which could include rent for the building, or if they have a mortgage on the building, payroll,” said Young.
Private non-profits that may qualify for such assistance include colleges, libraries, and homeless shelters. Loans of up to $2 million are available with an interest rate of 2.875. The deadline to turn in applications for physical property damage is October 1st. The deadline to turn in economic injury applications is May 2nd of next year.
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