SBA Approves Over $1 Billion in Disaster Loans In Puerto Rico

WASHINGTON, Feb. 22, 2018 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced that more than $1 billion in low-interest disaster loans has been approved for 28,106 Puerto Rico residents and businesses recovering in the aftermath of Hurricanes Irma and María which struck in September 2017.

"Recovery for Puerto Rico has a long way to go.  The SBA is still on the ground, making sure that island residents and businesses are getting the help they need to rebuild. The agency will continue its outreach to make sure those who need the help are aware of the long-term recovery assistance that's available," SBA Administrator Linda McMahon said. "Meanwhile, SBA mobile business recovery centers have visited all 78 Puerto Rico municipalities, with 4,500 business owners attending sessions to learn about SBA disaster assistance and  get help with online disaster loan applications."          

The filing deadline for physical property damage disaster loan applications for Hurricanes Irma and María is March 20, 2018.  The deadline to return economic injury disaster loan applications is June 11, 2018 for Hurricane Irma, and June 20, 2018 for Hurricane María.

For information about local recovery centers and SBA's disaster assistance program, call the Disaster Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing), or email [email protected]. To learn more about SBA's disaster assistance program, and to apply for a loan online, visit www.sba.gov/disaster.

About the U.S. Small Business Administration
The U.S. Small Business Administration (SBA) was created in 1953 and is a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses, and recover from disasters. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam. To learn more about SBA, visit www.sba.gov.

Release Number: 18-11

Contact: Carol Chastang (202) 205-6987
Internet Address: www.sba.gov/news 
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SOURCE U.S. Small Business Administration