Newspaper article The Florida Times Union

Disaster Loans Topped $24 Million in Florida; Small Business Administration Aided in Hurricane Recovery

Newspaper article The Florida Times Union

Disaster Loans Topped $24 Million in Florida; Small Business Administration Aided in Hurricane Recovery

Article excerpt

Byline: Amanda Williamson

The U.S. Small Business Administration funneled more than $24 million in low-interest disaster loans into Florida during October to help with Hurricane Matthew recovery - but the deadline to take advantage of this resource is quickly approaching.

For businesses and residents, the last day to file an application for physical property damage is Dec. 16.

These loans, despite being issued by the SBA, help homeowners, renters, businesses and most private non-profit organizations. So far, the organization has approved 661 disaster loans in the amount of $24,036,200 for affected survivors.

"We are pleased to get these loans approved so residents in the disaster area can start to rebuild and resume their normal lives," said Frank Skaggs, director of SBA's Field Operations Center East in Atlanta. "I encourage anyone who has not submitted an SBA disaster loan application to do so before the deadline."

St. Johns County, so far, has received the most help from SBA as a result of damage acquired during Hurricane Matthew's crawl up the Florida coastline in early October. The SBA has approved approximately $7.6 million in loans to St. Johns' homeowners and $415,900 in loans to businesses, as of Nov. 9.

In Duval, they have issued $470,400 to homeowners, and $52,500 for Nassau homeowners. Neither county received any money for business loans, as of Nov. 9.

By most recent data counts, the only county near St. Johns in terms of SBA loans is Volusia County.

There, businesses and homeowners acquired about $4.4 million in assistance.

However, Jack Camp, public affairs specialist with the SBA, suspects these numbers have gone up in the week since the last tally - though not as fast as assistance offered by the Federal Emergency Management Agency.

"FEMA's numbers tend to go up faster," Camp said. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.