February 16, 2010
SBA Sets Disaster Loan Deadline
By Matthew L. Brown
The deadline for homeowners, renters, businesses and nonprofit organizations that suffered property damage during a January apartment fire in Malden to apply for U.S. Small Business Administration loans is March 16.
The SBA is offering loans of up to $200,000 to repair damage caused by the Jan. 9 fire at the Mystic Side Estates fire. The six-alarm blaze rendered the 61-unit complex uninhabitable.
The economic injury disaster loans carry interest rates as low as 2.56 percent for renters, 4 percent for businesses and 3 percent for nonprofits. They are available to those located in Essex, Middlesex, Suffolk and Worcester counties.
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