On Nov. 25 Congress passed the Recovery Improvements for Small Entities After Disaster Act of 2015 (RISE After Disaster Act of 2015.)
The RISE After Disaster Act authorizes those affected by Hurricane Sandy to apply for government loans. Small business owners, homeowners, renters, and nonprofit entities of Ocean County will be able to borrow money at low interest rates to repair damaged property. A summary of the act can be found on the Congress website.
In response to the RISE After Disaster Act, the US Small Business Administration (SBA) has extended the deadline to apply for disaster loans to Dec. 1, 2016. The electronic application for loans can be found on the SBA website.
The SBA opened temporary Centers for Disaster Assistance on Dec. 7. Ocean City’s closest center is at City Hall in Atlantic City (1301 Bacharach Blvd., Room 129). Customer service representatives are available to assist with loan applications from 8 a.m. to 4:30 p.m. Monday through Friday.
The SBA’s customer service center can be reached over the phone at 1-800-659-2955 or through email at disastercustomerservice@sba.gov.
Click the link below to view more details on the loans available.
