U.S. Small Business Administration: Last day for May 10 disaster loans is Aug. 16

Last call for those looking to apply to the U.S. Small Business Administration (SBA) Physical Disaster Loans.

According to a press release from SBA, businesses, private non-profit organizations, homeowners and renters affected by the May 10 storms having until Friday, August 16 to apply for the Physical Disaster Loan.

"Those affected by the disaster should not wait to settle with their insurance company before applying for a disaster loan," the release said. "If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan."

SBA has one active Business Recovery Center which can help applicants complete their applications, among other things. The center at Domi Station, 914 Railroad Avenue, is open from Monday to Friday from 8 a.m. to 6 p.m. and on Saturday 10 a.m. to 4 p.m. but is closed on Sundays.

"With the changes to FEMA's Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover," the release said.

Arianna Otero is the City Solutions Reporter for the Tallahassee Democrat. Contact her via email at AOtero@tallahassee.com or on Twitter/X: @ari_v_otero .

This article originally appeared on Tallahassee Democrat: U.S. Small Business Administration: Last day for May 10 disaster loans is Aug. 16