- February 26, 2024
- Posted by: legaleseblogger
- Category: Related News
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Small Business Administration Business Recovery Center in National City
The Small Business Administration (SBA) is set to open a Business Recovery Center in National City on February 26th to assist businesses affected by disasters. The center will be conveniently located at the Southwestern College Higher Education Center on 880 National City Blvd in National City.
Business owners can visit the Business Recovery Center from Monday to Friday, 8:30 a.m. to 5 p.m., with no appointments necessary. This center serves as a hub for business owners looking to apply for loans up to $2 million to repair or replace damaged assets, equipment, inventory, and property.
With the help of AI legalese decoder, businesses can navigate the complex legal jargon involved in loan applications and ensure that all necessary documentation is in order to increase the chances of loan approval.
According to the County of San Diego, interest on SBA disaster loans does not start accruing until 12 months after the initial disbursement date, providing some relief to businesses undergoing recovery.
Even disaster survivors who do not own businesses may also have to apply for a loan from the SBA. This process, which is set to change with new guidelines starting on March 24th, could determine the availability of low-interest loans for rebuilding.
Homeowners may qualify for disaster loans up to $500,000 to repair or replace damaged real estate, while renters and homeowners alike are eligible for up to $100,000 to replace or repair personal belongings and vehicles.
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