DAYTONA BEACH, Fla. — The deadline to apply for federal assistance if you were impacted by Hurricane Ian is coming up on Thursday. With time running out for Hurricane Ian victims to apply for federal assistance, one option for people looking to get help is a low-interest loan from the government.

On Monday a Small Business Administration-Business Recovery Center is opening up at the Daytona Beach Library on Jackie Robinson Parkway. People will be able to fill out SBA loan applications, ahead of the deadline. The center will also accept documentation for already submitted applications, update people about their application status and help with reconsideration requests. Homeowners, renters, business owners, and non-profits can all take advantage of these loans.

“Businesses can borrow funds to make repairs to their buildings, replace their inventory, equipment, anything that was damaged by the hurricane,” explained Lauri Dana a Public Affairs Specialist for the U.S Small Business Administration.

In certain cases, the business can apply for a loan if it suffered a monetary loss, not just physical damage.

“Small businesses can also borrow working capital to cover the losses that happened from the hurricane,” added Dana. “Say people couldn’t get to them, electricity was out, if they suffered financial losses, they can also apply for economic injury disaster loans and they don’t need physical damage to apply for an economic injury disaster loan.”

Dana said for those working with their insurance companies they can still apply for the loan even if their insurance hasn’t been settled.

According to Volusia County officials, more than 7,000 homes were damaged during Hurricane Ian and more than $375 million was caused in damage. The SBA is offering an affordable alternative for those who are still needing help recovering.

“The interest rates are as low as 2.188% for homeowners or renters. For the first year, the interest rate is 0% and the first payment can be deferred up to a year,” said Dana. “We are trying to make it as affordable as possible to complete the disaster loan.”

The new center at the library will be open Monday through Thursday 9 am to 6 pm and on Friday and Saturday from 9 am to 5 pm. They will be closed on Sunday.