Trenton, NJ – Governor Chris Christie announced today that New Jersey businesses and residents affected by the severe winter snow storm on January 22 - January 24, 2016 can apply for low-interest disaster loans from the U.S. Small Business Administration. The declaration covers Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, and Ocean Counties. On February 18, 2016, Governor Christie formally requested a disaster declaration by the SBA as a result of the severe winter storm that impacted the state from January 22 to January 24, 2016.
Through the SBA Disaster Loan Program, eligible homeowners and renters can borrow up to $40,000 to repair or replace contents damaged during the storm. In addition, eligible homeowners can borrow up to $200,000 to repair or replace their primary residence to its pre-disaster condition. For businesses, a business of any size can borrow up to $2 million to address physical damage and small businesses (as defined by SBA) can borrow up to $2 million to address economic injury. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
SBA’s customer service representatives are available at the Disaster Loan Outreach Center in Atlantic County to answer questions about the disaster loan program and help individuals complete their applications. It is located in the following community and is open as indicated until further notice:
City of Atlantic City - City Hall Room 129
1301 Bacharach Blvd
Atlantic City, New Jersey 08401
Opening: Tuesday, Feb. 23, 2016
Days: Monday - Friday
Hours: 8 a.m. to 4:30 p.m.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Businesses and individuals 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 firstname.lastname@example.org.
Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is April 22, 2016. The deadline to return economic injury applications is Nov. 22, 2016.
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