SBA encourages all impacted flood victims to apply for a loan by the April 19 deadline, even if they aren’t sure they will use it. After being approved for a loan, an applicant has up to six months to accept it and it is free to apply.
Before applying, though, residents and business owners must first register for FEMA assistance, since FEMA is the lead agency responding to the disaster. The SBA loans can be offered as a secondary resource for disaster victims.
Eligible applicants may find a link to the SBA’s website on their FEMA application, or they can go directly to sba.gov/disaster.
To apply in person, borrowers have multiple options that are available only through April 19.
They can visit the business recovery center at Southwestern College’s Higher Education Center (880 National City Blvd., first floor, room 7100), which is open Monday through Friday from 8:30 a.m. to 5 p.m.
They can also visit one of the disaster recovery centers at the Mountain View Community Center (641 South Boundary St.) and Spring Valley Library (836 Kempton St.), which are open Tuesday through Saturday from 10 a.m. to 7 p.m.
Applicants must show that they will be able to repay the loan or loans, as well as present their credit history. SBA does not usually deny applicants based on a low credit score, though, according to SBA spokesperson Africa Rosas.
Flood victims will hear back from SBA within 2 to 3 weeks after they apply, Rosas added. More information can be found by calling the SBA customer service line at 1-800-659-2955.
