HUNT VALLEY, Md. – A U.S. Small Business Administration (SBA) Disaster Loan Outreach Center is to open January 22, at the Lower Somerset County Fire & Rescue building in Crisfield.

Staff is available at the center to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process, help individuals complete their applications, and close approved disaster loans. No appointment is necessary to speak with a representative. Marylanders can also file an SBA application online at www.disasterloan.sba.gov/ela.

“At this stage of the recovery process, the emphasis for assistance shifts to meeting the long-term needs of Marylanders who suffered damage from Hurricane Sandy,” said Ken Mallette, Executive Director, Maryland Emergency Management Agency. “We believe this SBA center meets the current needs of Somerset County residents and businesses.”

The U.S. Small Business Administration (SBA) provides low-interest disaster loans to cover the uncompensated losses for personal contents up to $40,000 for both homeowners and renters and up to $200,000 for homeowners for physical damage to their primary residence. 

The SBA also provides low-interest loans up to $2 million for uncompensated physical losses suffered by businesses of any size and private non-profit organizations.  Additionally, working capital loans, or Economic Injury Disaster Loans (EIDLs), are available for small businesses in the designated and adjoining counties.  The combination of the two business loans cannot exceed $2 million.

“SBA loans are the federal government’s primary source of money for the long-term rebuilding of disaster damaged property,” said Federal Coordinating Officer Michael Lapinski. “Returning a complete SBA loan application is a significant step in the recovery process.”

For information about SBA programs or to find a location nearby, applicants may call 800-659-2955 (TTY 800-877-8339), or visit SBA’s website at www.sba.gov/services/disasterassistance. Individuals may also contact SBA by email at disastercustomerservice@sba.gov.

The filing deadline to return applications for property damage is February 12, 2013.  The EIDL deadline is September 16, 2013

FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain, and improve our capability to prepare for, protect against, respond to, recover from, and mitigate all hazards.