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  • Update - $ approved for SBA disaster loans, 2 in-person centers open, PSAs, and more

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    October 19, 2020
    As of COB yesterday, SBA had approved 230 disaster loans for more than $9.1 million.
     
    We have centers open in Escambia and Okaloosa Counties where people can get one-on-one assistance with submitting their applications or asking questions. The centers are open 7 days a week, 8 a.m.-8 p.m. (Attached files: SBA FL PSA Hurricane Sally-BRC Locations.mp3 = PSA; and 30sec PSA_HurrSally_FL-Spanishm4a)
     
     
    Okaloosa County Business Recovery Center
    Bridgeway Center
    Building C

    205 Shell Ave.
    Fort Walton Beach, FL 32548

     
    Hours:    Sunday-Saturday (7 days a week)
                       8 a.m. to 8 p.m. (CST)
     

    Escambia County Business Recovery Center
    East Pensacola Heights Clubhouse
    3208 East Gonzalez St.
    Pensacola, FL 32503
     

    Hours:    Sunday-Saturday (7 days a week)
                       8 a.m. to 8 p.m. (CST)
     
     
    SBA disaster loans cover insurance deductibles; people don’t need to wait until they get their insurance settlement to apply for an SBA disaster loan.
     
    If FEMA tells someone to apply to SBA, they should do it…. It is free to apply, and if they are approved for a loan, they are under no obligation to accept it.  If their application is denied, SBA refers the applicant back to FEMA for potential additional grant consideration. If they don’t apply to SBA, they don’t move forward in the FEMA process.
     
    We are available for remote interviews, solo, or with a FEMA PIO. 
     
    I’d love to explain why disaster loans are a good idea, how they are unique, and the difference in applying for an SBA disaster loan compared to a commercial bank. For instance, the interest rate for homeowners and renters is as low as 1.188% AND the first payment on an SBA disaster loan is not due ‘til 5 months from when the promissory note is signed. There is also no collateral required for a disaster loan of $25K or less. AND, businesses suffering due to the 3 Mile Bridge being out can apply for an Economic Injury Disaster Loan for working capital. Applicants have 60 days to decide if they want the loan. If they turn it down, they can reactivate their application for 6 months if they change their mind.