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3) Emergency Farm Loans - This type of loan program is still funded by the Small Business Administration and it is designed to help family farmers recover from losses obtained during natural disasters.
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. |
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The loan amount administered under this program cannot exceed the maximum amount of $500,000 and can only be utilized for:
a) Repairing and replacing affected buildings and other structures
b) Buying livestock and equipment
c) Paying vital farm operating costs and family living expenses
d) Refinancing debts
e) Repairing and replacing fundamental household contents that have been directly damaged in the disaster
4) Home and Property Disaster Loans - This type of loan is geared towards the provision of loaned funds to homeowners whose homes have been damaged during natural disasters. This type of loan can provide loan funds amounting to $200,000 depending on the extent of the damages incurred by the property.
5) Military Reservist Economic Injury Disaster Loan Program - The purpose of this loan is to loan funds to eligible small businesses in an effort to help them meet their ordinary and necessary operating expenses that it was supposed to meet, but failed to do so in the process, for the reason that one or some of its employees have been called to active duty in their role as a military reservist.
To read more about the eligibility and application requirements of these loan programs, kindly visit http://www.govloans.gov/loans/type/4.
Disaster Relief Loans from GovLoans
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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. He also maintains Websites providing resources on environmental grants and grants for youth programs. |
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