GovLoans is a website created by the United States Federal Government that is designed to serve as the public's gateway to loan program information.
Disaster loans can be utilized for the repair and rebuilding of non-farm, private sector disaster losses, and are available to all types of business, instead of being restricted to small businesses alone.
One of the several kinds of loans that are featured in the GovLoans website are Disaster Relief loans.
Here is a list of the disaster relief loans that are available through the GovLoans website:
1) Business Physical Disaster Loans - This type of loan is funded by the Small Business Administration. This loan can be utilized for the repair and rebuilding of non-farm, private sector disaster losses, and is available to all types of business, instead of being restricted to small businesses alone.
Business Physical Disaster loans are intended for private, non-profit organization or businesses in an effort to financially help them repair or replace real property, machinery, equipment, fixtures, inventory, and leasehold improvements.
The SBA can provide up to $2,000,000 in loan amount and extend payment period for up to 30 years.
2) Economic Injury Disaster Loans - The Economic Injury Disaster Loan is provided by the Small Business Administration. This type of loan can administer up to $2,000,000 to small businesses or private, non-profit organizations who have suffered from substantial economic injury as a result of natural disasters, regardless of whether or not the applicant has directly sustained physical damage.
Disaster Relief Loans from GovLoans
About The Author
Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs.
Leilah Janah is a social entrepreneur popularly known as the CEO of Samasource, a nonprofit organization that works to bring enterprise data services which focus on helping disadvantaged workers. Samasource also makes it possible to change the lives of its workers and their families by helping them find dignified, sustainable work online.