The US Small business administration has opened up its war chest for New Jersey residents affected by high winds and storms that had hit the region on June 30th. Karen Mills announced low interest disaster loans for the victims.
Administrator Mills opened the loan grant to the disaster victims of New Jersey. Loans have been made available after Gov. Chris Christie wrote a letter to Mills requesting for the disaster grant. Immediately, a disaster declaration for New Jersey has been announced. The State’s disaster declaration covers counties like Ocean, Gloucester, Cumberland, Cape May, Camden and Burlington.
SBA remains firm in its commitment to provide whatever assistance is needed for businesses even in the wake of a natural disaster. In case of New Jersey, for example, the agency acted promptly and made available an effective customer focused response so as to forward federal disaster loans to homeowners, businesses and renters. It is the agency’s first priority to get businesses and communities up and running if they are damaged by a major disaster. So, just like New Jersey, the agency comes forward to make disaster loans available in every other US State.
Businesses and non-profits are eligible to borrow up-to $2 million for repair or replacement of business assets, machinery, inventory, real estate and equipment. Homeowners can find up-to $200,000 in loans that can be used for recovery of real estate property damages. Renters can find grants ranging up-to $40,000 that can be used to repair personal property damaged by storms and other forms of natural havocs. A disaster outreach center has also been opened in Atlantic county to help business owners file loan applications.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org