Wall Homeowners Flooded In August Eligible For Federal Loans

BRICK, NJ — The U.S. Small Business Association has opened an office in Brick Township on Friday to assist homeowners who were flooded during the August storm apply for low-interest federal loans to repair their homes.

The office, which will be in the Greenbriar Clubhouse, 1 Darley Circle, will be open from Friday, Oct. 26 through Friday, Nov. 2.

The disaster loan program is open to homeowners, businesses and nonprofit organizations that suffered damages and losses as a result of the storms that hit Aug. 11 through Aug. 13 in New Jersey. While the office is in Brick, the SBA program includes Monmouth County. A number of homeowners in Howell and Wall townships also suffered significant damage. (READ MORE: 4 Days Later, Monmouth Is Still A Flooded Mess: What's Next?)

The deadline for applying for loans for physical damage is Dec. 24, 2018. The deadline for applying for loans due to economic injury is July 24, 2019.

The assistance available:

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. Private, nonprofit organizations such as charities, churches, private universities, etc., are also eligible.

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.

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

US Small Business Administration Disaster Loan Information For August Storm by Karen Wall on Scribd

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Flooding at the Route 34-Allenwood Road intersection Aug. 13, via Wall Township Police