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Montgomery County to Host Small Business Administration Disaster Loan Outreach Center; Low-interest Loans May Be Available to County Residents and Businesses Impacted by July 8 Flooding

For Immediate Release: Friday, August 9, 2019

The U.S. Small Business Administration (SBA) is making disaster loans available to those impacted by July 8 flooding damages. The County’s Office of Emergency Management and Homeland Security is hosting a Disaster Loan Outreach Center (DLOC) to assist residents and businesses who may be eligible for financial assistance due to damage from the July 8 flood.  

The DLOC will be located at the J. Thomas Manger Public Safety Headquarters located at 100 Edison Park Drive in Gaithersburg. The DLOC will be staffed by the SBA to assist affected business owners and residents with questions about disaster loan program, and help individuals complete their applications. 

The SBA provides low-interest, long-term disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace uninsured/underinsured disaster damaged property. 

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and private nonprofit organizations may borrow up to $2 million through the SBA to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory and other business assets. 

“I want to thank everyone who submitted information to our damage assessment portal,” said Office of Emergency Management and Homeland Security Director Earl Stoddard. “The submitted data helped determine that our region met the eligibility threshold to receive disaster loan assistance.”  

Montgomery County is eligible for SBA disaster loan assistance because Arlington County VA, met the threshold for a SBA disaster declaration

The scheduled date and hours of the DLOC are:

  • Wednesday, Aug. 14 – 11 a.m. to 6 p.m. 
  • Thursday, Aug.15 – 9 a.m. to 6 p.m.
  • Friday, Aug. 16 – 9 a.m. to 6 p.m. 
  • Saturday, Aug. 17 – 10 a.m. to 2 p.m. 
  • Monday, Aug. 19 – 9 a.m. to 6 p.m. 
  • Tuesday, Aug. 20 – 9 a.m. to 6 p.m.
  • Wednesday, Aug. 21 – 9 a.m. to 5 p.m.   

More information is available on the website.  

Release ID: 19-277
Media Contact: Judy Stiles 240-777-6536