Agency also extends initial payment deadline
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The Daytona Beach News-Journal
Disaster loans from the Small Business Administration in Volusia County are getting additional support.
County officials, in a news release, announced the SBA will waive interest and extend the initial payment deferment period to one year for all loans approved for a disaster declared on or after Sept. 21, 2022, and until Sept. 30, 2023.
According to the Small Business Administration: “The effective date covers SBA disaster loans currently available for Hurricane Fiona and Hurricane Ian declared earlier this year. SBA does not have the authority to forgive interest that has already accrued on disbursed loan funds.
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“Borrowers who already received a loan for a disaster declared after the Sept. 21 effective date will also receive an automatic extension of their first payment due date to 12 months and 0% interest. SBA will notify eligible borrowers of their loan modification and they will not need to submit a request to receive this automatic benefit.”
Residents can apply for loans from the Small Business Administration. The program is not just for businesses. For information, visit disasterloanassistance.sba.gov/ela/s/, call 800-659-2955, email disastercustomerservice@sba.gov or go to the Disaster Recovery Center at the Florida Department of Health-Volusia at 1845 Holsonback Drive in Daytona Beach.
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