ATLANTA – The U. S. Small Business Administration (SBA) announced today that in observance of the Columbus Day holiday, the SBA Business Recovery Center (BRC) in Vicksburg, Mississippi will be closed on Monday, Oct. 14 and will reopen on Tuesday, Oct. 15 at normal operating hours. Additionally, to date SBA has approved over $1.1 million in low-interest disaster loans for Mississippians.
Businesses, homeowners and renters that sustained physical losses or economic injury due to severe storms, straight-line winds, tornadoes, and flooding from Feb. 22 through March 29, 2019 are encouraged to visit the Center and submit an SBA disaster loan application. SBA representatives at the Center can provide information about disaster loans, answer questions and help in completing the SBA application. \
The Center is located as indicated below.
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Warren County : Alcorn State University’s Vicksburg Location Vicksburg Mall 3505 Pemberton Square Boulevard, Suite 5 Vicksburg, MS 39180
Hours: Monday-Thursday from 8 a.m. to 5 p.m. Friday from 8 a.m. to 4 p.m. Closed: Saturdays and Sundays Closed: Monday, Oct. 14 for the Columbus Day Holiday |
The disaster declaration covers Clay, Humphreys, Issaquena, Lowndes, Monroe, Sharkey, Warren and Yazoo in Mississippi 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: Attala, Chickasaw, Clairborne, Hinds, Holmes, Itawamba, Lee, Leflore, Madison, Noxubee, Oktibbeha, Sunflower, Washington and Webster in Mississippi; and Lamar, Marion, Pickens in Alabama; Chicot in Arkansas ; and East Carroll, Madison and Tensas parishes in Louisiana .
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. Applicants may be eligible for a loan 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.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit 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.
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 up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Interest rates are as low as 4 percent for businesses, 2.75 percent for nonprofit organizations and
2.063 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 DisasterLoan.sba.gov .
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.
Applications and program information are available by calling the SBA’s Customer Service Center at
1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov . Loan applications can also be downloaded at www.sba.gov . Completed applications should be returned to a center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage is Nov. 19, 2019 . The deadline for economic injury applications is June 22, 2020 .