Newspaper article Sarasota Herald Tribune

Loans Available to Tornado Victims

Newspaper article Sarasota Herald Tribune

Loans Available to Tornado Victims

Article excerpt


Sarasota County businesses and residents affected by the severe storms and tornado on the weekend of Jan. 17 can apply for low- interest disaster loans from the U.S. Small Business Administration, the agency's administrator, Maria Contreras-Sweet, announced Friday.

Contreras-Sweet made the loans available in response to a letter from Gov. Rick Scott this week requesting a disaster declaration by the SBA. The declaration covers Sarasota County and the adjacent counties of Charlotte, DeSoto and Manatee, a news release from Sarasota county stated.

"The SBA is strongly committed to providing the people of Florida with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans," said Contreras-Sweet. "Getting businesses and communities up and running after a disaster is our highest priority at SBA."

"Businesses and 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," said SBA's South Florida District Director Francisco Marrero.

For small businesses, small agricultural cooperatives, small aquaculture businesses and most private nonprofit organizations of all sizes, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

The Disaster Loan Outreach Center at Bee Ridge Park, 4430 S. Lockwood Ridge Road, in Sarasota, will open Tuesday at 9 a.m. It will be open from 9 a.m. to 6 p.m. on weekdays (except for Feb. 15, Presidents' Day), and 10 a.m. to 2 p.m. on Feb. 13. It will close Feb. 18 at 3 p.m.

"Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. …

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