Beginning Tuesday, July 9, 2024, companies and residents affected by the extreme storms and flooding that occurred between June 11 – 14, 2024 are eligible to use for low-interest catastrophe loans from the U.S. Small Enterprise Administration (SBA).
“We wish to be sure all our residents that have been affected by the current occasions are in a position to get the assets they should repair their properties and shield them from future occasions,” mentioned Mayor Daniella Levine Cava. “As our group faces the rising challenges of local weather change, we should be sure that our houses and our infrastructure are resilient and future-ready.”
After the flooding, Miami-Dade County’s Division of Emergency Administration (DEM) activated a injury evaluation survey instrument to assist companies and people doc the extent and sort of harm sustained of their properties. The survey collected over 200 responses, which helped the County meet the necessities wanted to deliver the help of the Small Enterprise Administration and supply help. Survey respondents and different property house owners affected by the flooding occasion might want to apply for help instantly.
Deadline:
- The submitting deadline to return functions for bodily property injury is Aug. 30, 2024.
- The deadline to return financial damage functions is April 1, 2025.
The place to use:
– Commercial –
- In individual on the Catastrophe Mortgage Outreach Middle Areas: To help the companies and residents affected by the extreme storms and flooding, the SBA -in coordination with Miami-Dade County- is opening two Catastrophe Mortgage Outreach Facilities (DLOCs) on the areas listed under that may solely be open for 1-2 weeks for speedy help. SBA employees can be out there on the DLOCs to reply questions relating to the catastrophe mortgage program and help companies and residents full their catastrophe mortgage utility, settle for paperwork, and supply updates on an utility’s standing.
- Northeast Dade Aventura Department Library: 2930 NE 199th Road, Aventura, Florida 33180
- Opening: Tuesday, July 9, 11:30 a.m. to six p.m.
- Working Hours: Wednesday – Friday: 9:30 a.m. – 6 p.m. and Saturday: 10 a.m. – 2 p.m. Closed: Sunday
- Closes Completely: Saturday, July 13 at 2 p.m.
- North Dade Regional Library, 2455 NW 183rd Road, Miami Gardens, FL 33056
- Opening: Monday, July 15, 11:30 a.m. to six p.m.
- Working Hours: Tuesday – Friday: 9:30 a.m. – 6 p.m. and Saturday: 10 a.m. – 2 p.m. Closed: Sunday
- Closes Completely: Saturday, July 20 at 2 p.m.
Stroll-ins are accepted, and in-person appointments at an SBA Catastrophe Mortgage Middle will also be scheduled on-line prematurely.
– Commercial –
- On-line: To use on-line and obtain further catastrophe help data go to sba.gov/disaster.
- By way of cellphone: Candidates may additionally name SBA’s Buyer Service Middle at (800) 659-2955 or e-mail [email protected] for extra data on SBA catastrophe help. For people who find themselves deaf, exhausting of listening to, or have a speech incapacity, please dial 7-1-1 to entry telecommunications relay companies.
Particulars
Companies and personal nonprofit organizations could borrow as much as $2 million to restore or substitute disaster-damaged or destroyed actual property, equipment and gear, stock, and different enterprise property.
For small companies, small agricultural cooperatives, small companies engaged in aquaculture and most personal nonprofit organizations, the SBA presents Financial Damage Catastrophe Loans (EIDLs) to assist meet working capital wants attributable to the catastrophe. EIDL help is offered no matter whether or not the enterprise suffered any bodily property injury.
Loans as much as $500,000 can be found to owners to restore or substitute broken or destroyed actual property. Owners and renters are eligible for loans as much as $100,000 to restore or substitute broken or destroyed private property.
Candidates could also be eligible for a mortgage quantity improve of as much as 20 % of their bodily damages, as verified by the SBA for mitigation functions. Eligible mitigation enhancements could embrace a secure room or storm shelter, sump pump, French drain or retaining wall to assist shield property and occupants from future injury.
Rates of interest are as little as 4% for companies, 3.25% for nonprofit organizations, and a pair of.688% for owners and renters, with phrases as much as 30 years. Curiosity doesn’t start to accrue, and month-to-month funds should not due, till 12 months from the date of the preliminary disbursement. Mortgage quantities and phrases are set by the SBA and are based mostly on every applicant’s monetary situation.
