ATLANTA – The U. S. Small Business Administration (SBA) announced today that due to a steady decrease of activity, the Business Recovery Center (BRC) in Warren County, Mississippi will cease operations on Thursday, Oct. 31 at the close of business.
To date, SBA has approved 49 disaster loans totaling $2,060,200 for businesses and residents of Mississippi for their disaster related damages. Businesses that sustained physical losses or economic injury due to the severe storms, straight-line winds, tornadoes, and flooding from Feb. 22 through Aug. 23, 2019 are encouraged to submit an SBA disaster loan application before it’s too late. SBA representatives at the BRC can provide information about disaster loans, answer questions and help businesses 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 Closes: Thursday, Oct. 31 at 5 p.m. |
Businesses and private non-profit organizations of any size may qualify for loans up to $2 million. The SBA offers economic injury loans to help meet working capital needs caused by the disaster. Eligibility for these working capital loans are based on the size and type of business and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits. 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 .
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 return applications for physical property damage is Nov. 19 , 2019 . The deadline to return economic injury applications is June 22, 2020 .