IA 15898-05 SBA to Open Disaster Loan Outreach Centers in Missouri Valley and Sioux City

SACRAMENTO, Calif.

– Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA will open Disaster Loan Outreach Centers in Missouri Valley and Sioux City beginning at 9 a.m. on Friday, April, 26.

“SBA customer service representatives will be at these centers to answer questions about SBA’s disaster loan program, explain the application process, help each individual apply online and close their approved disaster loans,” Garfield continued. The centers will be open on the days and times indicated. No appointment is necessary.

In addition, SBA representatives continue to provide these same services at the SBA Business Recovery Center and federal-state Disaster Recovery Centers on the days and times indicated below. No appointment is necessary.

So far, SBA has approved nearly $16 million to businesses and residents impacted by the severe storms and flooding that began March 12.

Businesses of all sizes 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 businesses and homeowners to help with the cost of improvements to 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 to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

SBA 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.

Interest rates can be as low as 4 percent for businesses, 2.75 percent for private nonprofit organizations and 2.063 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, survivors first register with the Federal Emergency Management Agency at

www.disasterassistance.gov

.

Applicants may apply online, receive additional disaster assistance information and download applications at

https://disasterloan.sba.gov/ela

. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email

disastercustomerservice@sba.gov

for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The deadline to apply for property damage is May 22, 2019. The deadline to apply for economic injury is Dec. 23, 2019.