Federal Disaster Loans for Businesses of all Sizes, Homeowners and Renters in Schenectady are available beginning today.
Low interest U.S. Small Business Administration disaster loans are available to the survivors of the March 6 apartment fire in Schenectady. SBA personnel will be temporarily available at 105 Jay Street, Room 14, today through Thursday, April 23rd to assist businesses, homeowners and renters affected by the fire.
Businesses of any size and nonprofit organizations may borrow up to $2 million dollars, while 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.
SBA’s customer service representatives will be available at the Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications. The Center is located in the following community and is open as indicated:
Schenectady County
City of Schenectady
105 Jay Street, Room 14
Schenectady, New York 12305
Opens: Tuesday, April 14 at 9 a.m.
Hours: Tuesday, April 14 through Thursday, April 23 from 9 a.m. to 5 p.m.
Saturday, April 18 from 9 a.m. to 1 p.m.
Closed: Sunday, April 19
Closing: Thursday, April 23 at 5 p.m.
Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofit organizations, and 1.813 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is June 8, 2015. The deadline to return economic injury applications is January 11, 2016.
