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SBA Opens Montgomery County Disaster Loan Outreach Center at Twinbrook Library in Rockville

Posted on by Amanda Bosland

The U.S. Small Business Administration (SBA) is opening a temporary Disaster Loan Outreach Center (DLOC) in Montgomery County to help local businesses and residents impacted by Tropical Storm Ida

The DLOC will have one-on-one assistance with submitting applications for disaster loan assistance. Eligible jurisdictions in the Washington Metropolitan Area include Montgomery and Prince George’s Counties in Maryland; the District of Columbia; and Arlington, Fairfax and Loudoun Counties in Virginia. Qualifying incidents must have occurred between August 31, 2021 and September 4, 2021. The SBA encourages impacted businesses of all sizes, non-profit organizations, homeowners, and renters to visit the DLOC to have questions answered about the program.

Interest rates for this loan program are as low as 2.855 percent for businesses, 2 percent for nonprofit organizations, and 1.563 percent for homeowners and renters, with repayment terms of up to 30 years. Loan amounts and terms are established by the SBA and are based on each applicant’s financial condition.

  • Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets
  •  For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by a declared disaster
  • EIDL assistance is available for businesses that sustained physical property damage and/or economic damage
  • Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property
For additional details, please click: MD-17229 Agency Fact Sheet
 
Montgomery County DLOC
Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the DLOC are encouraged to wear a face mask.
 
Location:

Twinbrook Library
202 Meadown Hall Drive,
Rockville, MD 20851

Dates/Hours of Operation:

Monday, October 25, 2021 — 12:00pm to 6:00pm

Tuesday, October 26, 2021 — 12:00pm to 8:00pm

Wednesday, October 27, 2021 — 10:00am to 6:00pm

Thursday, October 28, 2021 — 12:00pm to 8:00pm

Friday, October 29, 2021 — 10:00am to 6:00pm

Saturday, October 30, 2021 — 10:00am to 2:00pm

Sunday, October 31, 2021 — CLOSED

Monday, November 1, 2021 — 10:00am to 6:00pm

Tuesday, November 2, 2021 — 12:00pm to 8:00pm

Wednesday, November 3, 2021 — 10:00am to 6:00pm

Thursday, November 4, 2021 — 12:00pm to 8:00pm

Friday, November 5, 2021 — 10:00am to 4:00pm (the Montgomery County DLOC will close permanently on November 5 at 4:00pm)

 

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