SBA Offers Disaster Relief

Low-interest federal disaster loans are available to Alaska businesses and residents affected by the Royal Suite Lodge Apartment Complex fire in Anchorage that occurred Feb. 15, 2017, U.S. Small Business Administration’s Administrator Linda McMahon announced today. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Bill Walker on March 31.

The disaster declaration makes SBA assistance available in the Municipality of Anchorage, Chugach Regional Educational Attendance Area, Kenai Peninsula Borough and Matanuska-Susitna Borough.

“SBA is strongly committed to providing Alaska with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for businesses and residents affected by the disaster,” said McMahon. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said SBA’s Alaska District Director Nancy Porzio. “Beginning 10 a.m. on Thursday, April 6, SBA representatives will be on hand at the following Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Porzio continued. The center will be open on the days and times indicated below. No appointment is necessary.

MUNICIPALITY OF ANCHORAGE
Disaster Loan Outreach Center
Z.J. Loussac Public Library
Innovation Lab, Fourth floor
3600 Denali St.
Anchorage, AK 99503

Opens 10 a.m. Thursday, April 6

Mondays – Fridays, 10 a.m. – 6 p.m.

Center closes 6 p.m. Thursday, April 13

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 3.15 percent for businesses, 2.5 percent for private nonprofit organizations and 1.875 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online using SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov (link sends e-mail). Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit https://www.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 property damage is June 5, 2017. The deadline to return economic injury applications is Jan. 4, 2018.