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Baltimore offers disaster loans for those affected by May 27 flooding

Posted: 5:40 PM, Jul 31, 2018
Updated: 2018-07-31 17:40:59-04
Baltimore offers disaster loans for those affected by May 27 flooding

Residents and business affected by the May 27 severe flooding in Baltimore can now apply for low-interest disaster loans provided by the U.S. Small Business Administration, the Baltimore City Office of Emergency Management said Tuesday.

SBA Customer Service Representatives will be available to answer potential applicant questions at the city's Disaster Loan Outreach Center at the Stillmeadow Evangelical Free Church (5110 Frederick Ave.). The center will be open from 9 a.m. to 6 p.m. weekdays, and 10 a.m. to 2 p.m. Saturday.

For small businesses, loans are available to help meet capital needs caused by the flooding, and Economic Injury Disaster Loans are available regardless of whether the businesses suffered any physical property damage.

Homeowners can pursue loans up to $200,000 to repair real estate damage, as well as $40,000 loans for damaged property. 

More information about the loan programs, as well as applications, can be found on the SBA's website .