ATLANTA –The U.S. Small Business Administration announced today the opening of Business Recovery Center in Gulfport, MS, Harrison County. This Center will provide one-on-one help to business owners seeking disaster assistance for losses caused by Hurricane Isaac that began on Aug. 26.
“Businesses with physical damages or loss of revenue should seriously consider visiting the Center and applying for an SBA disaster business loan,” said Janita Stewart, SBA’s Mississippi district director. SBA’s customer service representatives are on hand at the Center to answer questions about the disaster loan program and assist business owners in completing their applications.
The Center opens as indicated below:
Business Recovery Center
SBA Gulfport Branch Office
Hancock Bank Plaza
2510 14th Street, Suite 103
Gulfport, MS 39501
Opens: Tuesday, Sept. 11 at 8 a.m.
Hours: 8 a.m. to 4:30 p.m. Monday through Friday
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
Interest rates are as low as 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
To be considered for all forms of disaster assistance, call the Federal Emergency Management Agency (FEMA) at 800-621-FEMA (3362), (TTY) 800-462-7585 for the deaf and hard-of-hearing. Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to email@example.com.
The filing deadline to return applications for physical property damage is October 31, 2012. The deadline to return economic injury applications is May 30, 2013.
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For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.