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SBA extends deadline for Hurricane Ian loans

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The Small Business Administration has approved nearly $1.2 billion in low-interest loans to survivors of Hurricane Ian, and it continues to offer them. The deadline to apply for help with physical damage has been extended to January 12. Please note that individuals, homeowners, and renters can apply for these loans. Even if you applied to the SBA for help during COVID-19, you can still apply for help from Hurricane Ian.

Businesses who lost working capital have until June 29, 2023, to submit an application for help.

SBA Public Affairs Specialist Tauheedah Mateen encourages people to apply while SBA staffers who can help are still in the area.

“We want to make sure that those business owners, those homeowners and those renters understand that we are here physically in the area at the disaster recovery centers, at the business recovery centers,” she said. “You do not have to be a business owner to go into a business recovery center and get help with your SBA application.”

And they will be in the area, she says, as long as it takes, but be aware that the January 12 deadline is coming up.

“For those SBA low-interest rate loans,” she said, ”it’s better to have it and not need it than to need it and not be able to get it because the deadline has passed.”

Just apply and get in the queue before the deadline, Mateen said. You do not need to wait for your insurance to settle. And, she adds, if you have already been approved for a loan from SBA, you can ask for up to a 20% increase for mitigation, such as raising your building or getting hurricane-proof windows.

To apply or to follow up on your application, go to disasterloanssistance.sba.gov or visit a Disaster Recovery Center near you. Those locations can be found at FEMA. gov. Look for the DRC locator.

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