The Small Business Administration, or SBA, offers loans to help put a business back together after a disaster of any kind strikes the area. Learning about the basic loan options when disaster strikes can help determine if SBA loans are appropriate for your company’s needs. The SBA loans offered through UnsecuredBizLoan.com can help provide up to $35,000 if a disaster occurs, making it easier to get past the problems.
Physical Recovery Loans:
An SBA loan provides funding to pay for physical damage to the property of the business or home owner. Two types of loans are available that deal with physical problems: the home and property loans for individuals and families or the business physical disaster loan.
The SBA loans related to property recovery help pay for the damages incurred to a home or business that need supplies and services to fix. The loans are offered at a low interest rate so that it is possible to rebuild and clean up from the earthquake, tornado, hurricane or other disasters that strike the area.
Obtaining a property loan to help pay for physical damages to a home or business will require contacting the Office of Disaster Assistance to get through the situation.
An SBA loan for disaster does not always mean paying for the damages. A business that suffers economic stress or the reduction of profits to result in problems as a result of the location to the disaster can also obtain funding.
The qualification for an SBA loan related to economic stress is that the business must be located in the disaster zone and must show economic injury. The loan is designed to help non-profit organizations and small businesses get back on track financially after a disaster occurs, even if physical damage did not result in repair costs.
Getting past a disaster is not always easy, but with SBA disaster loans available through UnsecuredBizLoan, it is possible to start on the financial recovery needs. The loan provides a low-interest method of managing the price of repairs or getting past the economic difficulties during recovery periods.
To apply for funding for your small business, use the form on the right to begin the application process.