PRINCE FREDERICK, Md. – Nov. 1, 2021 –Calvert County residents and businesses who may have been affected by the remnants of Tropical Storm Ida on Aug. 31 through Sept. 4, 2021, may apply for low-interest disaster loans from the U.S. Small Business Administration (SBA).
Businesses and residents in the SBA declared disaster area can now apply for low-interest disaster loans. The declaration covers Anne Arundel, Cecil, and Montgomery Counties and the adjacent counties of Baltimore, Baltimore City, Calvert, Frederick, Harford, Howard, Kent, Prince Georges in Maryland; New Castle in Delaware; Chester and Lancaster in Pennsylvania; and Arlington, Fairfax, and Loudoun in Virginia.
Business Physical Disaster Loans, Economic Injury Disaster Loans, and Home Disaster Loans are available, with interest rates as low as 2.855% for businesses, 2% for nonprofit organizations, and 1.563% for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
The SBA has opened Disaster Loan Outreach Centers (DLOCs) in Anne Arundel, Cecil and Montgomery counties to answer questions about the program and help individuals complete applications. Residents and business owners may visit a DLOC or use the Electronic Loan Application at DisasterLoanAssistance.sba.gov/ela/s to submit an application. Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or emailing DisasterCustomerService@sba.gov. Individuals should apply under SBA declaration #17229.
DLOCs are open at the following locations through Friday, Nov. 5 at 4 p.m.:
- Anne Arundel Economic Development, 2660 Riva Road #200, Annapolis
Monday through Friday, 8:30 a.m. to 5 p.m.
- Cecil County North East Branch Library, 485 Mauldin Ave., North East
Monday through Friday, 9 a.m. to 5:30 p.m.; Saturday, 10 a.m. to 2 p.m.
- Montgomery County Twinbrook Library, 202 Meadow Hall Drive, Rockville
Monday, Wednesday and Friday, 9 a.m. to 6 p.m.; Tuesday and Thursday, noon to 8 p.m.; Saturday, 10 a.m. to 2 p.m.