The Small Business Administration will open a temporary disaster loan assistance office Monday at the Brainerd Public Library to help area individuals and businesses with their SBA applications.
Assistance is available to those in Crow Wing County now that the county has been added to the president's May 16 major disaster declaration.
The temporary disaster loan assistance office will be open 9 a.m. to 6 p.m. Monday through Friday and 9 a.m. to 1 p.m. Saturday at the library. Beginning July 2, the office will be open 9 a.m. to 6 p.m. weekdays until further notice.
The office will be closed July 4.
A representative from the Federal Emergency Management Agency will also be at the office for a limited time to answer questions about disaster assistance.
Homeowners, renters, landlords or business owners with damage from severe storms, flooding or tornadoes that began March 23 are welcome to speak with a loan officer even if some insurance helped with damages. The office can process an application without insurance settlement information.
The SBA offers loans up to $200,000 to repair disaster damaged homes. Homeowners and renters are eligible for up to $40,000 to replace personal property. Loans to businesses, up to $1.5 million, are also available to repair damage to real estate, machinery, equipment and inventory.
Working capital assistance is also available through the SBA's Economic Injury Disaster Loan program. Interest rates for individuals can be as low as 3.50 percent and 4 percent for businesses. Loan terms on all loans can be up to 30 years.
Even if people have insurance they are encouraged to call FEMA at 800-462-9029 and register for assistance. The deadline for SBA applications is July 15.
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