SBA Disaster Loan Webinar Hosted by Pinellas County

Posted on February 23, 2021

Pinellas County Office of Emergency Management hosts Webinar with SBA on Disaster Assistance Information for Tropical Storm Eta

Businesses and residents in Pinellas County who were affected by Tropical Storm Eta have until March 29, 2021 to apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).

To help with this process, Pinellas County Emergency Management will host a webinar on Wednesday, Feb. 24, from 6 – 7 p.m. Roberto Baltodano, Public Affairs Specialist from the SBA Office of Disaster Assistance, will explain available program and services, the benefits of an SBA Disaster Loan and the three-step application process.

Pinellas County floodplain, flood insurance and building officials will also be on hand to address questions the audience may have. Register in advance for this webinar: https://zoom.us/webinar/register/WN_ZbfAJ526R_iCiE7xfHvs9g

The SBA offers Disaster Assistance Loans of up to $200,000 for homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are also eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 3 percent for businesses, 2 percent for nonprofit organizations, and 1.125 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 the SBA’s secure website at DisasterLoan.sba.gov.

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 sba.gov/disaster. Completed applications should be 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 March 29, 2021. The deadline to return economic injury applications Oct. 28, 2021.

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