Severe Flooding in St. Louis | EIDL Loan

Federal Disaster Assistance available due to Severe Flooding in St. Louis. President Biden's disaster declaration on August 8th, makes FEMA and SBA assistance available to homeowners, renters, and small businesses affected by the severe flooding from July 25 to July 28 2022.

Eligible Counties are: St. Louis, St. Charles and the City of St. Louis. Loan deadline for physical damage is October 7 2022; deadline for economic injury is March 8 2023.

First step is to register with FEMA. Once registered FEMA will guide you for the eligible assistance. SBA offers homeowners up to $200,000 to repair or replace disaster-damaged real estate and up to $40,000 to repair or replace disaster-damaged personal property.

Renters can also borrow up to $40,000 to repair or replace damaged personal property. Interest rates start at 1.688% with no closing costs and no prepayment penalty.

Small businesses and nonprofit organizations can borrow up to $2 million with interest rates starting at 2.93% for businesses and `.875% for nonprofits.

LINKS: https://www.disasterassistance.gov/
MORE INFO: https://www.timesnewspapers.com/webster-kirkwoodtimes/low-interest-federal-loans-available-to-flood-victims/article_0d29709e-247a-11ed-b44f-3be4283b0993.html

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💥 WHO WE ARE

Trevor retired from Mortgage Banking in 2018. He brought the standards he developed in his mortgage financing career along with his customer service background with the once famous "Crazy Eddie" retail chain to assist business owners and entrepreneurs manage the day-to-day doldrums when it came to securing business financing before & during COVID.

In 2017, Linda Rey exited the insurance business and with Trevor, we launched Aurora Consulting, a Commercial Financing Brokerage to help entrepreneurs expand their enterprise with unique, cost effective business financing solutions.

When the pandemic hit, the business shut down as Lenders scrambled with the Paycheck Protection Program (PPP).

As true entrepreneurs do, Linda Rey and Trevor pivoted and sought to help business owners learn the fundamentals about business financing and how to apply for the SBA’s Economic Injury Disaster Loan (EIDL).

They had enough experience with how to apply for a business loan, so their knowledge helped to enlighten business owners who were navigating the very confusing EIDL process.

Aurora Consulting developed a national reputation assisting business owners all over the country and helped to secure over $70 million (that we know of) in disaster funding for small business owners.

Now we counsel when we can on our YouTube Channel to update business owners, applicants and borrowers how to secure business funding.

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