SAIPAN, CNMI – The joint Disaster Recovery Center will transition to a
U.S. Small Business Administration (SBA) Disaster Loan Outreach Center next week.
The DRC will close at 5 p.m. Friday, Oct. 9. Following Commonwealth Cultural Day, the DLOC will open in the same location Tuesday, Oct. 13.
Representatives from the SBA will be available at the center to meet individually with residents and business owners to answer their questions, explain SBA’s disaster loan program, help them complete their applications and close their approved disaster loans.
Anyone who has SBA-related questions or needs assistance can visit:
Disaster Loan Outreach Center (DLOC)
Pedro P. Tenorio Multi-Purpose Center – Theater
Susupe, Saipan, MP 96950
Mondays – Fridays, 9:00 a.m – 6:00 p.m.
SBA low-interest disaster assistance loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 from SBA to repair or replace damaged or destroyed personal property.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
SBA can also lend additional funds to businesses and homeowners to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
Applying for an SBA low-interest disaster loan is part of federal disaster assistance. Many people who apply to FEMA are automatically referred for a low-interest disaster assistance loan. Survivors should complete SBA loan applications so they can be considered for all available disaster assistance.