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Disaster loans approved by Small Business Administration

The Small Business Administration confirmed that over $5 million in Disaster Loans has been approved for Mississippi. 

These low-interest loans are available for businesses and residents in Mississippi who were affected by the severe storms, tornadoes, straight-line winds and flooding on Jan 20-21.

“Currently, 99 disaster loans have been approved in the amount of $5,382,200 for affected survivors,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. “With the March 27 deadline to apply for physical disaster loans approaching, we want to encourage everybody who has been referred to the SBA by FEMA to apply for the disaster loan while federal assistance is still available.”

These loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters to cover uninsured losses. The interest rates are as low as 3.125 percent for a business and 2.5 percent for private organizations, and 1.5 percent for homeowners.

To be considered for any form of assistance visit www.DisasterAssistance.gov or download FEMA’s mobile app.

You can apply HERE.

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