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Disaster Press Releases

AR 13957-04 SBA Business Recovery Center in Conway to Close

SACRAMENTO, CA - Arkansas District Director Linda Nelson of the U.S. Small Business Administration’s (SBA) Little Rock Office announced today that SBA will close its Business Recovery Center in Conway at 5 pm on Wednesday, June 4, 2014.

“SBA, the Arkansas Small Business and Technology Development Center (ASBTDC) and the Conway Chamber of Commerce opened the center to provide personalized assistance to Arkansas business owners who were affected by the severe storms, tornadoes and flooding that occurred on April 27, 2014. Until the center closes, SBA customer service representatives will continue to be available to meet with business owners to answer all of their questions, explain SBA’s disaster loan program, help them complete their applications and close their approved disaster loans,” said Nelson.  The center is open on the days and times indicated.  No appointment is necessary.

SBA Business Recovery Center
Faulkner County Justice Building, 3rd Floor
510 S German Lane
Conway, AR  72034
Mondays – Fridays
9 am – 5 pm
Closes at 5 pm on Wednesday, June 4, 2014

“SBA customer service representatives will continue to be available at the following Disaster Recovery Centers to meet with residents and business owners to help them complete their SBA disaster loan applications and close their approved disaster loans,” Nelson said.  No appointment is necessary.

Disaster Recovery Center
600 Highway 365
Mayflower, AR  72106
Mondays – Saturdays
9 am – 7 pm

Disaster Recovery Center
1122 Main Street
Vilonia, AR  72173
Mondays – Saturdays
9 am – 7 pm

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.  So far, SBA has approved more than $3.7 million in federal disaster loans to help Arkansas residents and businesses recover from this disaster.

Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 2.188 percent for homeowners and renters, 2.625 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years.  Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela

Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or e-mailing disastercustomerservice@sba.gov.  Individuals who are deaf or hard of hearing may call (800) 877-8339.  For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster

The filing deadline to return applications for property damage is June 30, 2014.  The deadline to return economic injury applications is January 29, 2015. 

 

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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Release Number: 
AR 13957-04
Release Date: 
Friday, May 30, 2014
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Arkansas
Field Operations Center: 
West