LOWNDES CO – The U.S. Small Business Administration has opened a new Recovery Center at the Lowndes County Civic Center.
Release:
The U.S. Small Business Administration opened a new Recovery Center at the Lowndes County Civic Center located at 2102 E. Hill Avenue, Bldg. D, Valdosta, GA 31601 where homeowners, renters, businesses, and most private non-profits can apply for a disaster loan. The Recovery Center is open to the public Monday through Friday from 9:00 a.m. to 5:00 p.m. A Press Release will be forthcoming. Please share this information with the public.
- Homeowners, Renters, Businesses of any size, and Non-Profits in your county can apply for a SBA low interest rate disaster loan to repair or replace their property that was damaged or destroyed by the storm.
- Apply online at: https://lending.sba.gov or at a temporary Recovery Center (see the attached locations list)
- Call the SBA with any questions at: 1-800-659-2955 or 711 for the hearing impaired
- Information and documents needed to apply for a loan
- Identification Card
- Social Security Number for all applicants and Employer Identification Number for a business
- Current contact information for each applicant, including, their cell phone number
- Financial Information (income, account balances, monthly expenses)
- Deed or Lease information
- Income Tax Return for the prior year
- Insurance information, if available.
LOAN TERMS
- Maximum loan up to: $500,000 for real property disaster loans for homeowners
- $ 100,000 for personal property disaster loans for homeowners and renters which includes: furniture, clothing, automobile, etc.
- $2 million for businesses and non-profits which consists of the total loan amount for property, mitigation, an Economic Injury Disaster Loan “EIDL,” and refinancing and applies to all disaster loans to a business and its affiliates for each disaster. Please note that only the EIDL has an application deadline of June 30, 2025; it also has a 60 day grace period to apply for an EIDL after the deadline.
- Applicants can ask the Loan Officer to determine if they are eligible to apply for a mitigation loan in an effort to protect their property from future damage; a refinance loan; a relocation loan; and/or a loan due to contractor malfeasance or fraud.
INTEREST RATES
Interest rates as low as:
- 2.813 % Homeowners and Renters
- 3.250 % Private Non-Profits
- 4.000 % Businesses
ADDITIONAL BENEFITS TO AID IN THE RECOVERY
- No application fee
- No interest accrues during the first year of the loan
- First loan payment is not due for a period of one year
- Do not have to wait for insurance claim settlement to apply to the SBA
- Most loan terms are 30 years
