SACRAMENTO, Calif.
– Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA has approved more than $5 million in federal disaster loans for South Dakota businesses and residents impacted by severe storms, tornadoes and flooding that occurred Sept. 9-26, 2019. According to Garfield, SBA has approved $119,700 for businesses and $5,026,800 for residents to help rebuild and recover from this disaster.
“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Garfield. Businesses and residents in Brookings, Charles Mix, Davison, Hanson, Hutchinson, Lake, Lincoln, McCook, Minnehaha, Moody and Yankton counties; the Flandreau Santee Indian Reservation; and the Yankton Indian Reservation who sustained damages are encouraged to register prior to the January 17, 2020, deadline with the Federal Emergency Management Agency at
www.disasterassistance.gov
. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” she added.
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Davison County Mondays - Saturdays, 9 a.m. – 6 p.m.
Lake County Mondays – Saturdays, 9 a.m. – 6 p.m. |
Hanson County Mondays - Saturdays, 9 a.m. – 6 p.m.
Minnehaha County Mondays – Saturdays, 9 a.m. – 6 p.m. |
For small businesses and most private nonprofit organizations of all sizes, 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. The deadline to apply for economic injury is August 18, 2020.
Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. 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 1.75 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.
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.