ATLANTA – The U. S. Small Business Administration (SBA) announced today that in observance of the Memorial Day holiday, the SBA Virtual Disaster Loan Outreach Center/Business Recovery Center (VDLOC/VBRC) will be closed on Monday, May 25 and will resume on Tuesday, May 26 during normal operating hours. SBA established the Center for anyone in the declared counties in Mississippi with damages caused by the April 12, 2020 severe storms, tornadoes, straight-line winds and flooding.
In observance of the Memorial Day holiday, one-on-one assistance at the Virtual Disaster Loan Outreach Center/Business Recovery Center (VDLOC/VBRC) will be unavailable on Monday, May 25 and will resume on Tuesday, May 26. New hours of operation beginning Friday, May 22 will be Monday through Friday, 8 a.m. to 5 p.m., Central Time.
Virtual Disaster Loan Outreach Center/Business Recovery Center (VDLOC/VBRC)
Open: Monday – Friday
Hours: 8 a.m. – 5 p.m. (CT)
Closed: Saturdays and Sundays
Closed: Monday, May 25, in observance of Memorial Day
Email: FOCE-Help@sba.gov
Phone: 404-331-0333 Extensions for residents 2122, 2106; and for businesses extension 2123
These services are only available for the Mississippi disaster declaration as a result of the severe storms, tornadoes, straight-line winds and flooding on April 12, 2020, and not for COVID-19 related assistance.
The disaster declaration covers Clarke, Covington, Grenada, Jasper, Jefferson Davis, Jones, Lawrence, Panola, and Walthall 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: Calhoun, Carroll, Copiah, Forrest, Lafayette, Lamar, Lauderdale, Leflore, Lincoln, Marion, Montgomery, Newton, Perry, Pike, Quitman, Scott, Simpson, Smith, Tallahatchie, Tate, Tunica, Wayne, Webster and Yalobusha in Mississippi; Choctaw in Alabama; and Washington parish in Louisiana.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 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.
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.
Interest rates are as low as 3.75 percent for businesses, 2.75 percent for private nonprofit organizations, and 1.563 percent for homeowners and renters, with terms up to 30 years. The SBA customizes loan amounts and terms based on each applicant’s circumstances.
Survivors should contact the SBA Customer Service Representatives at 404-331-0333, Extensions 2122, 2123 and 2106 to schedule an appointment for immediate one-on-one assistance in completing their applications. Requests for SBA disaster loan program information may be obtained by emailing FOCE-Help@sba.gov. The SBA will conduct extensive outreach to ensure that all impacted by the disaster are afforded the opportunity to seek assistance.
Applicants may apply for declaration # 16421 online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloanassistance.sba.gov/.
Businesses and individuals may also obtain information and loan applications 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 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 June 15, 2020. The deadline to return economic injury applications is Jan. 19, 2021.
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.