Hurricane Ike/SBA Disaster Loans

The application deadline is fast approaching for low-interest physical damage disaster loans offered through the Small Business Administration.  These loans are for both businesses and homeowners and the deadline for applying is November 12.  Homeowners may borrow up to $200K and businesses up to $2mil.  Loans for economic injury have a longer filing deadline - those apps are not due until June 15, 2009.  For more information, see the SBA disaster assistance page.  I spoke with an SBA agent a couple of weeks ago and she said that they review the applications on a case by case basis so it does not hurt to apply if you think that you might be eligible, even if you have credit problems such as a recent bankruptcy.