WASHINGTON – Florida small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations affected by the Tropicana Flea Market fire in Miami on July 7 may apply for low-interest Economic Injury Disaster Loans (EIDLs) from the U.S. Small Business Administration, SBA Administrator Isabella Casillas Guzman announced today.
Administrator Guzman made the loans available in response to a letter from Florida Gov. Ron DeSantis’ authorized representative Kevin Guthrie on Aug. 11, requesting a disaster declaration by the SBA. Eligible applicants in the declared area can now apply for low-interest disaster loans from the SBA. The declaration covers Miami-Dade County and the adjacent counties of Broward, Collier and Monroe in Florida.
“The SBA is strongly committed to providing the people of Florida with the most effective and customer-focused response possible to assist small businesses, small agricultural cooperatives, small aquaculture businesses, and private nonprofit organizations with federal disaster loans,” said Guzman. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
To assist businesses affected by the disaster, the SBA will open a Business Recovery Center (BRC) in Miami-Dade County on Aug. 18 at the location and time as indicated below:
SBA Business Recovery Center (BRC)
Model City Branch Library
Opening: Thursday, Aug. 18, 11 a.m. – 6 p.m.
Open: Monday – Friday, 9:30 a.m. – 6 p.m.
Saturday, Aug. 20, 10 a.m. – 2 p.m.
Closes Permanently: Thursday, Aug. 25 at 4 p.m.
Customer Service Representatives will be available at the BRC to answer questions about the disaster loan program and help business owners complete their applications. 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 BRC are encouraged to wear a face mask.
“For eligible applicants, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster,” said SBA’s South Florida District Director J. Malcolm Richards.
Interest rates are 2.935 percent for businesses and 1.875 percent for nonprofit organizations, with terms of 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 DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17571.
Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded from 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 economic injury applications is May 15, 2023.
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. 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.