City of
Madison

District 11

Alder Arvina Martin

Image of Alder Arvina Martin,
Council Vice President

Alder Arvina Martin,
Council Vice President

Contact Information

Home Address:

4901 Waukesha Street
Madison , WI 53705

Council Office

Common Council Office:
210 Martin Luther King, Jr. Blvd
Room 417
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
WI Relay Service

Alder Martin’s Blog

Small Business Administration Disaster Assistance Loans for Homeowners, etc...

November 6, 2018 2:14 PM

SBA disaster assistance loans are available to homeowners, renters, businesses and non-profit organizations of all sizes that were affected by the disaster.  SBA offers disaster assistance loans up to $200,000 to homeowners for the repair or replacement of disaster damaged or destroyed real estate.  Homeowners and renters are also eligible to borrow up to $40,000 to repair or replace disaster damaged or destroyed personal property.  Automobiles that were damaged by the disaster are also eligible for disaster assistance loans. Businesses and private non-profit organizations of any size or type may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, the SBA offers the Economic Injury Disaster Loans to help meet working capital needs caused by the disasters.  Economic Injury disaster loans are available regardless of whether the business suffered any physical property damage.

The disaster loans interest rates are as low as 2.000 % for homeowners and renters, 2.500% for non-profit organizations and 3.675% for businesses and economic injury with terms up to 30 years to repay the disaster loan.  Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.

 

For a fact sheet regarding the SBA's Disaster Loans, please click here

 

 

Disaster Recovery Center (DRC)

2413 Parmenter Street

Middleton, WI 53562

Monday- SaturdayHours of Operations: 9:00 AM to 6:00PM

 

SBA Business Recovery Center (BRC)

740 Regent Street

Madison, WI 53562

Monday- Friday

Hours of Operations: 8:00 AM to 5:00PM




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