US Small Business Administration announces new loans for storm victims

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PEMBROKE, Ga. (WTOC) – As the recovery continues in Bryan County, new financial assistance is available for those in need.

Starting Tuesday, Small Business Administration staff will be at the Pembroke Police Department helping residents and businesses affected by this tornado apply for these loans and many of those affected say financial assistance is essential.

Harry Bostic examines what remains of his son’s house.

He said he nearly lost his son, whom he affectionately calls dad, when he saw this month’s tornado leave his home in total loss.

“I told Dad where you are and he still didn’t say anything. I said Barb I think they left; I really think they left because everything is crushed on them,” said Harry Bostic, Tornado Survivor.

Harry managed to pull his son out of the rubble and he is now recovering.

But even though the storm has passed, the struggles to recover remain.

“Just getting back on my feet and a car, and getting my family together and buying food,” Bostic said.

But now help is available for people like Harry affected by this storm.

The United States Small Business Administration has announced new loans for those affected by these storms.

Long-term low-interest loans are available for residents and businesses.

“Homeowners and tenants could be entitled to up to $40,000 for losses of personal property. That would include things like automobiles,” Jack Camp said.

The Small Business Association is urging anyone in need of a loan to visit their outreach center which opens at Pembroke Police Station on Tuesday.

“The easiest thing to do is to come to the center and get one-on-one assistance with one of our representatives there who can walk you through the process,” Camp said.

While many are trying to battle the financial hardship of rebuilding, the Small Business Administration says the loans are a good bet for those affected.

“When you are offered a loan, it’s really a good deal. Our interest rates for a homeowner can be lower than 1.5%, which is very hard to come by these days,” Camp said.

“It was difficult to get back on my feet, but a loan would help me 100%,” Bostic said.

The deadline to submit a property damage claim is June 21, 2022, while those seeking economic harm assistance have until January 23, 2023 to submit a claim.

Bryan County residents and businesses are the focus of the loan, people from other areas can also apply.

Businesses and residents affected by the April 5-6 tornadoes and storms in Bryan, Bulloch, Chatham, Effingham, Evans and Liberty counties are eligible to apply for the Small Business Administration loan to DisasterLoanAssistance.sba.gov/ela/s.

Opening hours are as follows Monday to Friday 9am to 6pm and Saturday 10am to 2pm

The center closes permanently on May 12 at 4 p.m.

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