The Small Business Administration is here to help you grow and succeed in your new or existing business venture. This is a Notice of the Presidential declaration of a major disaster for the State of Florida (FEMA-4337-DR), dated September 10, 2017. Recent research suggests that the use of credit scores in small business lending by community banks is surprisingly widespread.
Homeowners and renters are eligible for long-term, low-interest loans to rebuild or repair a damaged property to pre-disaster condition. SBA-backed loans are in principle open to any small business, but yours will need to meet certain criteria in order to qualify. Approximately 900 Small Business Development Center sites are funded through a combination of state and SBA support in the form of matching grants.
Several organizations in the United States also provide help for the small business sector, such as the Internal Revenue Service’s Small Business and Self-Employed One-Stop Resource. In addition, a small business must meet the credit qualifications of the lending partner.
Economic Injury Disaster Loans: If you’ve suffered a disaster that prevents your business from meeting its ordinary and necessary financial obligations, you may be qualified for an Economic Injury Disaster Loan (EIDL). It also examines issues raised concerning the SBA’s administration of the 7(a) program, including the oversight of 7(a) lenders and the program’s lack of outcome-based performance measures.
As a result of the tremendous variety of loans offered by the Small Business Administration, the different eligibility requirements are too numerous and too detailed to list here. Primary consideration is the repayment ability from the cash generated by the business.