The storms that hit parts of New York in September 2023 caused severe flooding and extensive damage. At American Capital Group we understand the burden that natural disasters can place on small businesses. To provide relief the SBA is offering low interest disaster loans. We are here to help.
The storms that hit parts of New York in September 2023 caused severe flooding and extensive damage. At American Capital Group we understand the burden that natural disasters can place on small businesses. To provide relief the SBA is offering low interest disaster loans. We are here to help.
Businesses of all sizes and private nonprofits in the areas declared as disaster zones are eligible to apply for SBA Economic Injury Disaster Loans (EIDL) of up to $2 million. These funds can be used to address working capital needs resulting from the storms.
In addition SBA Physical Disaster Loans of up to $2 million are available for repairing or replacing damaged estate, equipment, inventory and other assets. It's also possible to receive loan increases for mitigation measures like retaining walls.
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The deadline for applying for damage loans is February 2 2024. Economic injury applications will be accepted until September 4 2024.
With over a decade of experience, in arranging SBA loans we are ready to assist businesses affected by these weather events. We simplify the process of preparing documents and guide our clients through meeting eligibility requirements. We aim to offer support to businesses impacted by storms helping them rebuild and regain stability. If you require assistance, with applying for an SBA disaster relief loan please don't hesitate to contact us.
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