City of St. Albans’ Post

The U.S. Small Business Administration recently announced that Newport County is now included in the disaster declarations in Rhode Island for the severe storms and flooding that occurred on Dec. 17-19, 2023 and Jan. 9-13, 2024.  The disaster declarations cover Kent, Providence, and Washington counties in Rhode Island, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Bristol and Newport in Rhode Island; New London and Windham in Connecticut; and Bristol, Norfolk, and Worcester in Massachusetts. To learn more, join the SBA for a virtual workshop to give homeowners, renters, and especially small business owners an opportunity to learn about SBA recovery resources. Learn about low-interest federal disaster loans available for the severe storms & flooding that occurred December 17-19, 2023, and January 9-13, 2024. https://lnkd.in/e6w8XzsY

When disaster strikes, rebuilding is possible. Learn how Uplyft Capital’s disaster relief loans helped save a small business. Read more about the journey from devastation to recovery! 💪 #DisasterRelief #SmallBusiness #UplyftCapital

If you or someone you know is in need of disaster relief funding, check out our latest blog on how SBA and FEMA are offering crucial support through disaster loans for businesses, homeowners, and renters. Learn how to apply and get the help you need to recover. Please like and share this post in case someone in your contacts might need assistance! 🙏 #DisasterRelief #SBALoans #FEMARecovery #FundingSupport #BusinessLoans

Calling all #SmallBusinesses in #Florida needing assistance... There is a lot of information being shared today on hurricane assistance programs available through the #SBA and #FloridaCommerce. Please take the time to review the programs and to understand how each program can assist you. Learn what the program dollars can be used for, what the repayment requirements will be, what the 0% conversions are to the loan rate long term, and how much each program maximum is available so that you can use program(s) that best meet your needs and that you can sustain moving forward. Here is a snapshot of programs: ☑️ FloridaCommerce Emergency Bridge Loan: Short term 0%/12 month working capital loan available from $50,000 to $150,000 depending on industry sector. https://lnkd.in/eZxvKYGm ☑️ #SBA Business Physical Disaster Loan: Loans for physical damage to repair and replace physical assets NOT covered by insurance. This is a 0% interest for 12 months with an SBA determined 4-8% interest rate conversion. https://lnkd.in/epynmyi2 ☑️ #SBA Mitigation Assistance: Wind and Flood mitigation improvements to your business. This is a low interest loan program determined by SBA for requested improvements. https://lnkd.in/eWhh3bzF ☑️ #SBA Economic Injury Disaster Loans (EIDL): provides working capital to help businesses until they can resume normal operations. This is a 0% interest loan for 12 months with a 4% interest rate conversion. https://lnkd.in/ewvMyXU5 There are maximum loan amounts for each program and for maximum total of combined loans for a business. Contact your local bank representative to assist you in navigating these programs and/or you can schedule an appointment through your local U.S. Small Business Administration office at https://lnkd.in/eDWyjRzn #community #smallbizassistance #HurricaneHelene #HurricaneMilton #Floridadisasterassistance #smallbiz #smallbusinesses #disasterrecovery

The QRIDA Disaster Assistance Loans are now available to all primary producers or small businesses that have been recently been affected by the Queensland severe thunderstorms and rainfall, tropical cyclone Jasper, fires or monsoon and flooding. Our latest article covers more details on how this loan could help you re-establish normal operations of your business. http://maza.rs/6045iLuqf #MazarsinAustralia #QLD

5 Reasons Why SBA Disaster Loans Are Essential for Recovery In the wake of natural disasters like Hurricane Beryl, small businesses face numerous challenges. The U.S. Small Business Administration disaster loan program offers support. 👉 Access to substantial funds: Loans of up to $2 million can help cover significant expenses during recovery. 👉 Low-interest rates: The 4% interest rate makes borrowing more affordable. 👉 Long repayment terms: Loans are payable over 30 years, easing the financial burden. 👉 Versatile use of funds: Funds can be used for payroll, vendor payments, rent, and more. 👉No prepayment penalties: Businesses can repay the loan early without additional costs. The SBA’s disaster loan program is a lifeline for small businesses, providing the necessary financial support to recover and rebuild. 🔊 Hurricane Beryl Recovery Fund: https://lnkd.in/dMN--5DS

Hurricane Disaster Relief: Quick Steps to Maximize Your Loan Access 👉 Links to FEMA and SBA Disaster Loans in my most recent blog post! Register with FEMA Complete Damage Assessment Prepare Necessary Documents Submit SBA Loan Application Follow Up on Loan Processing Receive Loan Approval or Denial Stay proactive and get the assistance you need! #DisasterRelief #SBA #FEMAAssistance #HurricaneRecovery #BusinessFunding

Did you know? FHA has a disaster relief loan (203h) that allows 100% financing for people located in a presidentially declared major disaster area where their primary residence has incurred significant damage. Who is eligible for the FHA 203h loan: 👉 Must be in a Presidentially-Declared Major Disaster Area and primary residence has sustained significant damage whether property is owned or rented. 👉 Must be a primary single-family residence or FHA approved condominium 👉 New loan not to exceed conforming loan limits 👉 Not restricted to moderate income limits FHA 203h helpful features: 👉 100% financing is available 👉 No down payment required 👉 New residence is not restricted to the same location 👉 30 and 15 year fixed terms available For all who were in the path of the recent hurricanes, our thoughts and prayers are with you. #DisasterRelief #HurricaneRelief #financing

Funding crisis looms for SBA disaster loans post-Helene The Small Business Administration is facing a potential funding shortfall for its disaster loan program following Hurricane Helene. President Joe Biden has warned Congress that funds could run out in weeks without additional federal support, and as Hurricane Milton approaches, the urgency for additional funding grows

NEWS ALERT: Low-interest disaster loans from the SBA are available to businesses and residents in Florida, Georgia, North Carolina, South Carolina, Tennessee and Virginia following the announcement of a Presidential disaster declaration for Hurricane Helene. Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan. Applicants are encouraged to apply online for a disaster loan. Contact Alliance Capital Corporation at 205-982-7900 if you have any questions. #alliancesba #sbalending