[Archived] Low-Interest Federal Loans Available to Alexandria Residents and Businesses Impacted by Flooding

­­For Immediate Release: August 9, 2019

The U.S. Small Business Association (SBA) will make low-interest disaster loans available to qualifying Alexandria residents and business owners, to help recover from the July 8 storms and flooding. This historic weather event caused significant damage to public facilities, roads, businesses and homes.

Homeowners may be eligible to receive loans of up to $200,000 to repair or replace damaged or destroyed real estate, and homeowners and renters may be eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Loans of up to $2 million are available for businesses and private nonprofit organizations to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Interest rates for loans with terms up to 30 years are as low as 4% for businesses, 2.75% for nonprofit organizations, and 1.938% for homeowners and renters. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.

On August 13, the SBA will open temporary Disaster Loan Outreach Centers in the area to answer questions about the program and help individuals complete their applications. Residents and business owners may visit any loan outreach center or apply online using the SBA’s secure website. 

The nearest SBA Disaster Loan Outreach Center locations and operating hours serving the Alexandria community are:

Arlington County Trades Center Parks and Natural Resources Operations Building (2700 S. Taylor St.)

• August 13: 11 a.m.-8 p.m.

• August 14: 11 a.m.-8 p.m.

• August 15: 11 a.m.-8 p.m.

• August 16: 10 a.m.-6 p.m.

• August 17: 9 a.m.-1 p.m.

• August 18: CLOSED

• August 19: 11 a.m.-8 p.m. 

Tysons-Pimmit Regional Library (7584 Leesburg Pike, Falls Church)

• August 13: 11 a.m.-8 p.m.

• August 14: 11 a.m.-8 p.m.

• August 15: 11 a.m.-8 p.m.

• August 16: 10 a.m.-6 p.m.

• August 17: 1-5 p.m.

• August 18: CLOSED

• August 19: 11 a.m.-8 p.m.

The filing deadline to return applications for physical property damage is October 7, 2019. 

For more information, including other locations and operating hours of the Disaster Loan Outreach Centers, visit alexandriava.gov/Flooding.

For media inquiries, contact Melissa Riddy, Senior Communications Officer, at melissa.riddy@alexandriava.gov or 703.746.3961.