Low-interest loans available for hurricane victims


ARTISTS ARE OUT THERE, AND THEY PREY ON PEOPLE WHO ARE HURTING THE MOST. LOCAL FAMILIES IN NEED OF LONG-TERM FINANCIAL ASSISTANCE AFTER HURRICANE IRMA HAVE A CHANCE TO CASH IN THANKS TO LOW INTEREST GOVERNMENT LOANS.>>Julie: THE U.S. SMALL BUSINESS ADMINISTRATION IS OFFERING THE LOANS TO RENTERS, HOMEOWNERS AND SMALL BUSINESSES.>>Lisa: MIKE HOLFELD SAYS INTEREST RATES ARE STARTING AT UNDER 2%.>>Reporter: SHE’S THE FACE OF THE OTHER FEDERALLY BACKED LIFELINE, THE U.S. SMALL BUSINESS ADMINISTRATION. WHEN YOU SEE FEMA REPRESENTATIVES AT COMMUNITY INFORMATION SESSIONS, CHANCES ARE SHE’S THERE AS WELL.>>SBA IS HOPING WHILE FEMA IS HELPING YOU WITH THAT, YOU’RE WORKING WITH US ON LONG-TERM INTEREST LOANS THAT WE CAN REBUILD, REPAIR, RESTORE YOUR PLACE TO WHERE YOU WERE BEFORE THE DISASTER.>>Reporter: THEY’RE OFFERING THESE PEOPLE ACCESS TO LOW INTEREST LOANS. FRANKLY, THE NUMBERS ARE ATTRACTIVE. 30-YEAR LOANS OF 1.75% FOR UP TO $200,000. FOR SMALL BUSINESSES, THE RATE IS A LITTLE OVER 3% BUT YOU HAVE ACCESS TO $2 MILLION. FOR THE RECORD, NEED ALONE DOESN’T GUARANTEE APPROVAL.>>IT IS A LOAN, SO YOU HAVE TO HAVE THE ABILITY TO REPAY. YOU’RE GOING TO GO THROUGH IT LIKE GOING THROUGH A CAR LOAN OR HOUSE PURCHASE.>>Reporter: SHE SAYS THE ONLINE APPLICATION TAKES ABOUT 15 TO 20 MINUTES. SB SBA.GO SBA.GOV/IRMA IS TAKING APPLICATIONS RIGHT NOW.>>THE GOVERNMENT WANTS TO HELP YOU.>>Reporter: ONE MORE THING, DON’T PROCRASTINATE. THE SBA REMINDS US THE LONG DEADLINE FOR APPLICATIONS IS OCTOBER 31ST, SO GET THEM IN. FROM THE NEWSROOM, MIKE HOLFELD, NEWS 6.>>Lisa: AND MIKE SAYS EVEN IF YOU DON’T HAVE AN IMMEDIATE NEED, YOU CAN APPLY FOR A LOAN AND PUT IT ON HOLD SO THE MONEY WILL BE THERE.

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