he U.S. Small Business Administration is reminding businesses in the Virgin Islands that working capital loans are still available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by hurricanes Irma and Maria.
“Businesses that suffered economic losses as a result of the disaster and want to apply for low-interest loans from the SBA are urged to do so before the June 7 deadline for Hurricane Irma and June 20 deadline for Hurricane Maria,” said Richard Morgan, acting director of SBA Field Operations Center East.
SBA representatives at the Centers can provide information about disaster loans, answer questions and help survivors complete their SBA application. The locations and hours of operation for the Centers are indicated below.
SBA Disaster Loan Outreach Centers (DLOC)
Hours: Monday – Friday, 8 a.m. – 5 p.m.; Saturday, 9 a.m. – 2 p.m.
Closed Sundays
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St. Croix Emile Henderson Sr. Fire Station Frederiksted, St. Croix, USVI 00840 |
St. Croix VIYA Building 7G & 7H Estate Diamond, Pepper Tree Rd Christiansted, St. Croix, VI 00820 |
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St. Croix Plaza East Christiansted, St. Croix, VI 00820 |
St. John Legislature of the Virgin Islands, St. John Annex 1D Estate Cruz Bay, St. John, VI 00830 |
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St. Thomas Tutu Park Mall 4605 Tutu Park Mall, Suite 233 Anna’s Retreat, St. Thomas, VI 00802 |
St. Thomas Small Business Development Center University of the Virgin Islands St. Thomas, VI 00802 Open Mon. – Fri. only |
Working capital disaster loans up to $2 million are available at 3.305 percent for small businesses, and 2.5 percent for private nonprofit organizations with terms up to 30 years. The loans are intended to pay fixed debts, payroll, accounts payable, and other expenses that could have been paid had the disaster not occurred. To be considered for this assistance, eligible entities need to apply by the deadline.
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov.
Businesses 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 disastercustomerservice@sba.gov. Loan applications can also be downloaded at sba.gov/disaster. Completed applications should be returned to a enter or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for economic injury is June 7, 2018 for Hurricane Irma and June 20, 2018 for Hurricane Maria.