SBA Disaster Assistance for County Residents Affected by May 2 Centreville Fires
Posted at 2:50 p.m.
Fairfax County businesses and residents affected by the Forest Glen Senior Apartment Complex Fire in Centreville on May 2, can now apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).
The SBA issued a disaster declaration that covers Fairfax County, Arlington County, Loudoun County and Prince William County, Alexandria City, Fairfax City and Falls Church City in Virginia; the District of Columbia; and the counties of Charles, Montgomery and Prince Georges in Maryland.
SBA’s customer service representatives will be available at a Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications between June 15-22.
The Disaster Loan Outreach Center opened today, Friday, June 15, and is located at the Cub Run RECenter, 4630 Stonecroft Blvd., Chantilly.
Hours of operation are:
- Saturday, June 16, 10 a.m. to 2 p.m.
- Sunday, June 17 (closed)
- Monday, June 18 – Thursday, June 21 , 9 a.m. to 6 p.m.
- Friday, June 22 (center closes at 5 p.m.
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.
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 to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 3.61 percent for businesses, 2.5 percent for nonprofit organizations and 1.938 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 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 firstname.lastname@example.org. Loan applications can also be downloaded at www.sba.gov.
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.