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    Friday, April 19, 2019-2:39:49A.M.

     

     

     

     

     

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SBA Disaster Loan Outreach Center on Saipan to close on March 30

THE Small Business Administration Disaster Loan Outreach Center on Saipan will close on Saturday, March 30, according to Cynthia Cowell, SBA Office of Disaster Assistance public information officer.

But applicants and borrowers can still receive information and have their questions answered by calling the customer service line at 1-800-659-2955 from 10 p.m. to 10 a.m. local time, she added.

In an email, she said effective Friday she will be deployed to the Midwest.

“It has been my sincere pleasure to work with all of you. I treasure my time in the CNMI and Guam, even in the most dire circumstances, and will remember all of you, and the islands, fondly. Thanks to each of you, the CNMI and Guam remain strong.”

Cowell said as of March 11, a total of 1,416 SBA disaster loans had been approved for Typhoon Yutu with a total amount of $91,568,200.

SBA opened the center to provide personalized assistance to CNMI businesses and residents affected by Typhoon Mangkhut which occurred on Sept. 10-11, 2018, and Super Typhoon Yutu which occurred on Oct. 24-26, 2018.

Until the Saipan center closes, SBA customer service representatives will continue to be available to meet with businesses and residents to answer their questions, explain SBA’s disaster loan program and close their approved disaster loans, SBA Director Tanya N. Garfield said.

Businesses and residents can meet with SBA representatives on these days and times— no appointment is necessary.

  • • Tuesday to Friday, 9 a.m. - 6 p.m.
  • • Saturday, March 23, 9 a.m. - 1 p.m.
  • • Saturday, March 30, 9 a.m. - 6 p.m.

Although the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until July 1, 2019, to apply for an economic injury disaster loan to help meet working capital needs caused by Typhoon Mangkhut, Garfield said.

As for Typhoon Yutu she said small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until July 26, 2019, to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster.

Economic injury assistance is available regardless of whether the business suffered any property damage. Business owners may apply online using SBA’s secure website at https://disasterloan.sba.gov/ela

Interest rates are 3.675 percent for businesses and 2.5 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To receive additional disaster assistance information, visit SBA’s website at www.sba.gov/disaster

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.