ATLANTA – The U.S. Small Business Administration’s (SBA) electronic loan application (ELA) is the easiest way for businesses to apply for a disaster loan for Hurricane Sandy damages in New York. The ELA provides a convenient alternative to visiting a Disaster Recovery Center or mailing in a paper loan application. The program checks for errors, prompts for more information when needed and provides a quicker decision than the hand-written applications.
“We want everyone impacted by Hurricane Sandy to take advantage of the federal programs that are available to help them with their uninsured losses. In times of disasters, SBA provides low-interest disaster loans to fund repairs to homes, personal property and businesses losses. As a result of registering with FEMA, many homeowners and renters are referred to SBA even though they do not own a business. There is no cost to apply and there is no obligation to take the loan if it is offered. However those that do not submit their SBA disaster loan applications may limit their recovery options and the opportunity to be referred to other agencies,” said Jorge Silva-Puras, SBA Regional Administrator.
