78.5 F
Charlotte Amalie
Friday, May 20, 2022
HomeNewsArchivesFEMA, Small Business Administration Arrive to Help St. Croix

FEMA, Small Business Administration Arrive to Help St. Croix

Nov. 4, 2008 — Two federal agencies — the Federal Emergency Management Agency and the Small Business Administration — have opened offices on St. Croix to provide assistance in the wake of Hurricane Omar.
FEMA is working with the V.I. Territorial Emergency Management Agency (VITEMA) to provide assistance to public agencies, including governments and non-profit agencies that work with governments, according to Phyllis Deroian, the FEMA public information officer.
The FEMA Hurricane Omar Public Assistance Program will open this week with applicants' briefings and meetings on both St. Croix and St. Thomas. The St. Croix meeting will begin at 10 a.m. Thursday at the Florence Williams Library in Christiansted. On St. Thomas, the meeting will be held at 10 a.m. Friday in the Department of Human Services Sugar Estate Complex Conference Room.
These briefings, which are open to government and public agencies as well as certain private non-profit organizations, are to provide information on and take applications for the disaster assistance available under the FEMA Public Assistance Program.
There has been some confusion about the aid FEMA will provide, Deroian said. Because of the nature of the declaration of disaster, FEMA is authorized only to work with governments and non-profit agencies that work with them, not individuals.
"The people need to go to SBA," Deroian said. "We're not involved with individuals at all."
The Small Business Administration will begin taking applications for recovery loans beginning Wednesday. The agency is opening a Disaster Loan Outreach Center at 9 a.m. Wednesday at the Florence Williams Public Library at 1122 King Street in Christiansted. The center will open from 9 a.m. to 5 p.m. Monday through Friday and between 10 a.m. and 3 p.m. on Saturdays. The deadline to apply for a physical disaster loan is Dec.15. Application deadline for the economic injury disaster loan is July 31.
The SBA offers loans of up to $200,000 to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters also are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Mitigation loans are also being offered to disaster victims based on 20 percent of the verified physical damage. These funds are designed to help borrowers pay for protective measures to minimize damages of the same kind in the future.
Businesses and non-profit organizations of any size can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
Interest rates are as low as 2.875 percent for homeowners and renters and 4 percent for businesses, with terms up to 30 years, according to the SBA. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.
Back Talk Share your reaction to this news with other Source readers. Please include headline, your name and city and state/country or island where you reside.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.




Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.



STAY CONNECTED

20,771FansLike
4,718FollowersFollow

FROM FACEBOOK

Comments Box SVG iconsUsed for the like, share, comment, and reaction icons
This message is only visible to admins.
Problem displaying Facebook posts.
Error: Server configuration issue