12 Nov Disaster Loans vs Traditional Loans
My good friend Mitch has written an excellent article about the difference from a SBA Disaster Loan verse a Traditional Loan.
“There are two distinct lending arms or agencies of the U. S. Small Business Administration (SBA); the disaster arm and the traditional or regular arm. If a disaster occurs, a geographic region will be declared a disaster at the presidential level, for a specified period of time. An SBA regional disaster team will set up offices within the affirmed disaster zone and directly offer low-interest, long-term loans for physical and economic damage caused by a disaster. The disaster loans will solely be available within the affected region and only during the specified time period.”
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