SBA Business Recovery Center in Marshall County Closing March 16

ATLANTA – The U.S. Small Business Administration (SBA) announced today that due to a steady decrease in activity, the SBA Business Recovery Center (BRC) in Marshall County, Kentucky will cease operations at 6 p.m. on Wednesday, March 16.  SBA opened the Centers to provide one-on-one assistance to businesses affected by severe storms, straight-line winds, flooding and tornadoes on

Dec. 10-11, 2021.

“I encourage anyone who has not completed their disaster loan application to visit a Center before the closing to meet with a Customer Service Representative for one-on-one assistance,” said Kem Fleming, director of SBA’s Field Operations Center East.

Disaster survivors may still apply at a BRC or online through the deadline; afterwards, applicants may apply online and call SBA for help.

The disaster declaration covers Barren, Caldwell, Christian, Fulton, Graves, Hart, Hickman, Hopkins, Logan, Lyon, Marion, Marshall, Muhlenberg, Ohio, Taylor, and Warren counties in Kentucky, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Adair, Allen, Boyle, Breckinridge, Butler, Calloway, Carlisle, Casey, Crittenden, Daviess, Edmonson, Grayson, Green, Hancock, Hardin, Larue, Livingston, McCracken, McLean, Metcalfe, Monroe, Nelson, Simpson, Todd, Trigg, Washington and Webster in Kentucky; Mississippi and New Madrid in Missouri; and Henry, Lake, Montgomery, Obion, Robertson, Stewart and Weakley in Tennessee.

SBA’s Customer Service Representatives at the BRCs can answer program questions, assist in completing the SBA application, and help with the reconsideration process.  The Centers are located and open as indicated below:

Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRCs are encouraged to wear a face mask.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations, the 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 physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster damaged or destroyed personal property, including automobiles.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 2.83 percent for businesses, 1.875 percent for nonprofit organizations and 1.438 percent for homeowners and renters, 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://disasterloanassistance.sba.gov/ela/s/,  and should apply under SBA declaration # 17286, not for the COVID-19 incident.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.

Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please call 7-1-1 to access telecommunications relay services) or emailing DisasterCustomerService@sba.gov. Loan applications can also be downloaded at sba.gov/disaster.   Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is March 14, 2022. The deadline to return economic injury applications is Sept. 12, 2022. 

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.