Storm damage? You may qualify for a low interest loan

Crossposted from KC Emergency News

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If your home or business was damaged between Nov. 17 – 25 due to the bomb cyclone, straight-line winds, flooding, landslides, or mudslides, you may qualify for a U.S. Small Business Administration (SBA) Office of Disaster Recovery and Resilience low-interest loan. These loans cover disaster losses not fully covered by insurance or other sources. Proceeds from insurance coverage on home or property may be deducted from the eligible loan amount. Interest on the loan does not begin to accrue nor do the repayments start until 12 months after receiving the initial payment. Applicants can apply online or receive face-to-face application assistance by visiting one of two SBA Disaster Loan Outreach Centers, opening Monday, Jan. 6.

Center locations are in Renton and Bellevue: King County Elections, 919 SW Grady Way, Suite 100, Renton and Bellevue Library, 1111 110th Ave. NE, Bellevue in Room 5 on the 2nd floor. The hours for the King County Elections center are Monday-Friday from 8:30 a.m. to 4:30 p.m. while the Bellevue Library center will be open Mondays, Thursdays and Fridays from 10 a.m. to 6 p.m. and Tuesdays and Wednesdays 11 a.m. to 7 p.m.

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Information you may need when you apply for the loan includes the name and address which suffered damages, contact information for all applicants or owners, Social Security numbers for all applicants, all insurance policy information including the Agent or Carrier contact information and claims filed, and lease agreement information for renters.

Residents, businesses, or private nonprofits with damages can get additional disaster assistance information and apply directly online at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.