16 Nov 2018
- By Bryan Manabat – [email protected] – Variety News Staff
THE U.S. Small Business Administration has approved a total of 29 disaster loans — as of Nov. 14, 2018 — amounting to $926,900 for businesses affected by Typhoon Mangkhut, according to Cynthia R. Cowell SBA public information officer for the Office of Disaster Assistance, Field Operations Center-West.
Three were approved for business and economic disaster recovery loans totaling $ 25,100, Cowell said.
Cowell said as for Typhoon Yutu, five home disaster loans were approved as of Nov. 14 with a total amount of $162,700.
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.
“We also offer 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,” Cowell said.
On Friday, Nov. 16, 2018, the Disaster Recovery Center on Saipan will open at the multi-purpose center from 9 a.m. to 6 p.m., Monday through Friday, and 10 a.m. to 4 p.m., Saturday. All DRCs on the three main islands are closed on Sunday.
Source: Marianas Variety : http://www.mvariety.com/cnmi/cnmi-news/local/108923-sba-approves-926k-disaster-loans-for-typhoon-mangkhut