SBA approves 61 disaster home loans

THE U.S. Small Business Administration had approved 61 disaster home loans as of Nov. 23, 2018, according to Cynthia R. Cowell SBA public information officer, Office of Disaster Assistance, Field Operations Center-West.

Cowell said a total of $2,998,400 has been approved for loan applications filed by residents whose homes were destroyed or damaged by Typhoon Yutu.

SBA provides low-interest, long-term disaster loans to businesses of all sizes, private, non-profit organizations, homeowners and renters to repair or replace uninsured or underinsured disaster damaged property.

 SBA also offers economic injury disaster loans for businesses that may or may not have sustained any damage, but have experienced a downturn in business because of the disaster.

 Residents can apply for SBA disaster loans at the Disaster Recovery Center in the multi-purpose center.

The hours of operation are  from 9 a.m. to 6 p.m., Monday to Friday, and 10 a.m. to 4 p.m. on Saturday. The center is closed on Sunday.

Source: Marianas Variety :

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