SBA Virtual Disaster Loan Outreach
Tennessee businesses and residents affected by the explosion in Nashville on Dec. 25, 2020, can apply for low-interest disaster loans from the U.S. Small Business Administration, Acting SBA Administrator Tami Perriello announced today. The declaration covers Davidson County and the adjacent counties of Cheatham, Robertson, Rutherford, Sumner, Williamson, and Wilson in Tennessee.
SBA Low Interest Federal Loans for Disaster Related Damages
PHYSICAL DAMAGES:
Businesses of all sizes and nonprofits (Real Estate, Inventory, Equipment,etc.)
ECONOMIC INJURY:
Small businesses and nonprofits (working capital, no physical damages needed to apply)
Interest rates as low as: 3 % for businesses, 2 % nonprofit organizations. Max. loan, $2 million
HOMEOWNERS:
Up to $200,000 for Primary Residence
HOMEOWNERS/RENTERS:
Up to $40,000 for Personal Property
Interest rates as low as 1.125 % All loans have repayment terms up to 30 years.
For businesses/homeowners, mitigation is available up to 20% of SBA’s verified physical damage amount
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