A “Disaster Recovery Loan” outreach center will open today at the Hamilton Township Municipal Building, Atlantic County said.
Home and business disaster-recovery loans are available from the U.S. Small Business Administration for damages from the June 30 derecho storm. The loans can be used by county residents and businesses “to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster,” the county stated.
Low-interest loans are available to homeowners, renters and businesses to repair or replace property losses, including automobiles. Working capital loans are also available for small businesses and nonprofits that cannot meet financial obligations as a direct result of the disaster.
Second homes, pleasure boats and recreational vehicles are excluded from eligibility. Similarly, loans can only be obtained for uninsured or uncompensated losses.
Applicants must have a credit history and demonstrate the ability to repay all loans.
The outreach center at 6101 13th St., Mays Landing, will remain open through Thursday, Oct. 4. Hours of operation are Monday through Friday, 8:30 a.m. to 4:30 p.m. and Saturday from 10 a.m. to 2 p.m.
Staff Writer Wallace McKelvey contributed to this report.
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