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Disaster loan center set up in Ellicott City

Posted at 2:57 AM, Jul 31, 2018

The U.S. Small Business Administration has set up a Disaster Loan Center in Ellicott City to help victims of May's heavy flooding.

People will be able to go to the center to apply for disaster loans.

Below are the loans flood victims can apply for and the times the center is open.

1. Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible, as are private, non-profit organizations, such as charities, churches, etc.

2. Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.

3. Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

From Tuesday, July 31 through Tuesday, August 7, expect Sunday, August 5, a Disaster Loan Center will be open to the public at the Baltimore & Ohio Ellicott City Station Museum located at 3711 Maryland Avenue. Hours of operation of the Loan Center will be:
  • Tuesday, July 31 – 11:00 a.m. to 6:00 p.m.
  • Wednesday, August 1 through Friday, August 3 – 9:00 a.m. to 6:00 p.m.
  • Saturday, August 4 – 10:00 a.m. to 2:00 p.m.
  • Sunday, August 5 – CLOSED
  • Monday, August 6 – 9:00 a.m. to 6:00 p.m.
  • Tuesday, August 7 – 9:00 a.m. to 4:00 p.m.