ALBANY, GA (WALB) - The Small Business Administration says that businesses and private nonprofit organizations hit by January storms and tornadoes can borrow up to $2 million from the SBA.
This money can be used to repair or replace disaster damaged or destroyed real estate, inventory, machinery, equipment, and other business assets.
The loans are available in these counties- Atkinson, Baker, Ben Hill, Brooks, Calhoun, Coffee, Colquitt, Dodge, Dooly, Grady, Irwin, Lanier, Lee, Lowndes, Mitchell, Pulaski, Sumter, Telfair, Terrell, and Tift.
Interest rates are as low as 3.125% for businesses and 2.5% for nonprofit organizations, and 1.5% for homeowners and renters. You can takes up to 30 years to repay.
You can call the FEMA toll-free helpline at 800-621-3362.
You must return applications for physical property damage by March 27, 2017.
The deadline to return economic injury applications is October 26, 2017.