ATLANTA – Don't let the word "business" in our name mislead you. Businesses of all sizes, homeowners, renters and private nonprofit organizations in the declared counties are eligible to apply for low-interest loan funds from the U.S. Small Business Administration to cover their uninsured damages and losses from the severe storms, straight-line winds, tornadoes, and flooding from Feb. 22 through March 29, 2019.
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.
After the Disaster Assistance registration, all businesses and many homeowners and renters are referred to the SBA to consider applying for a low-interest disaster loan. When disaster survivors need to borrow funds to repair uninsured damages, the low-interest rates and long-terms available from SBA make recovery affordable. SBA’s disaster loans can cover the difference between what insurance paid and the amount of the damages.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov . Homeowners and renters may also apply at a Disaster Recovery Center.
Business owners that prefer to meet with an SBA Customer Service Representative can go to the Business Recovery Center (BRC) within Alcorn State University’s Vicksburg location at the Vicksburg Mall in Warren County. The Center is located as indicated below and will operate until further notice:
Warren County :
Alcorn State University’s Vicksburg Location
Vicksburg Mall
3505 Pemberton Square Boulevard, Suite 5
Vicksburg, MS 39180
New hours, effective Thursday, Sept. 26
Hours: Monday-Thursday from 8 a.m. to 5 p.m.
Friday from 8 a.m. to 4 p.m.
Closed: Saturdays and Sundays
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, retaining wall, elevating structures or relocating utilities 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.
The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. 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.
The disaster declaration covers Clay, Humphreys, Issaquena, Lowndes, Monroe, Sharkey, Warren and Yazoo counties 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, Claiborne, Hinds, Holmes, Itawamba, Lee, Leflore, Madison, Noxubee, Oktibbeha, Sunflower, Washington and Webster in Mississippi; and Lamar, Marion and Pickens in Alabama; Chicot in Arkansas and the parishes of East Carroll, Madison and Tensas in Louisiana.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@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. For more information about SBA recovery assistance, visit www.sba.gov .
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 . For more information about the SBA’s Disaster Loan Program, visit our website at sba.gov/disaster .
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 .
ATLANTA – Don't let the word "business" in our name mislead you. Businesses of all sizes, homeowners, renters and private nonprofit organizations in the declared counties are eligible to apply for low-interest loan funds from the U.S. Small Business Administration to cover their uninsured damages and losses from the severe storms, straight-line winds, tornadoes, and flooding from Feb. 22 through March 29, 2019.
ATLANTA
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.
After the Disaster Assistance registration, all businesses and many homeowners and renters are referred to the SBA to consider applying for a low-interest disaster loan. When disaster survivors need to borrow funds to repair uninsured damages, the low-interest rates and long-terms available from SBA make recovery affordable. SBA’s disaster loans can cover the difference between what insurance paid and the amount of the damages.
Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov . Homeowners and renters may also apply at a Disaster Recovery Center.
Business owners that prefer to meet with an SBA Customer Service Representative can go to the Business Recovery Center (BRC) within Alcorn State University’s Vicksburg location at the Vicksburg Mall in Warren County. The Center is located as indicated below and will operate until further notice:
Warren County :
Warren County
Alcorn State University’s Vicksburg Location
Vicksburg Mall
3505 Pemberton Square Boulevard, Suite 5
Vicksburg, MS 39180
New hours, effective Thursday, Sept. 26
Hours: Monday-Thursday from 8 a.m. to 5 p.m.
Friday from 8 a.m. to 4 p.m.
Closed: Saturdays and Sundays
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, retaining wall, elevating structures or relocating utilities 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.
The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. 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.
4 2.75 2.063
The disaster declaration covers Clay, Humphreys, Issaquena, Lowndes, Monroe, Sharkey, Warren and Yazoo counties 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, Claiborne, Hinds, Holmes, Itawamba, Lee, Leflore, Madison, Noxubee, Oktibbeha, Sunflower, Washington and Webster in Mississippi; and Lamar, Marion and Pickens in Alabama; Chicot in Arkansas and the parishes of East Carroll, Madison and Tensas in Louisiana.
Mississippi Mississippi; Alabama; Arkansas Louisiana.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to disastercustomerservice@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. For more information about SBA recovery assistance, visit www.sba.gov .
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 . For more information about the SBA’s Disaster Loan Program, visit our website at sba.gov/disaster .
Nov. 19, 2019 June 22, 2020
About the U.S. Small Business Administration
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 .