SACRAMENTO, Calif. – State/Federal Disaster Recovery Centers in O’Fallon and City of Saint Louis will convert to a U.S. Small Business Administration’s Disaster Loan Outreach Centers on Thursday, Sept. 29, 2022, and Monday, Oct. 3, 2022.
“At this stage of the recovery process, the emphasis for assistance is to meet the long-term needs of businesses and individuals that were impacted by severe storms and flooding that occurred July 25 – July 28, 2022,” said SBA’s Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West. “The transition of the O’Fallon and City of Saint Louis Disaster Recovery Centers to SBA Disaster Loan Outreach Centers will better meet the current residents’ needs of Saint Charles County and the City of Saint Louis.”
“SBA disaster recovery representatives will continue to answer questions, explain the application process, help businesses and individuals apply for a low-interest disaster loan and close their approved disaster loans,” Garfield continued. The Disaster Loan Outreach Centers will be open on the days and times indicated. No appointment is necessary.
SAINT CHARLES COUNTY
Disaster Loan Outreach Center
O’Fallon Municipal Center
100 North Main Street
O’Fallon, MO 63366
Opens at 9:00 a.m. Thursday, Sept. 29
Mondays – Fridays, 9:00 a.m. – 6:00 p.m.
INDEPENDENT CITY OF SAINT LOUIS
Disaster Loan Outreach Center
Salvation Army
2740 Arsenal Street
Saint Louis, MO 63118
Opens at 9:00 a.m. Monday, Oct. 3
Mondays – Fridays, 9:00 a.m. – 6:00 p.m.
“SBA’s low-interest federal disaster loans are available to businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future. So far, SBA has approved over $22 million in low-interest disaster loans to businesses and residents,” Garfield said.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, 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.
SBA provides federal low-interest disaster loans up to $200,000 to homeowners to repair or replace damaged or destroyed real estate. 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 2.935 percent for businesses, 1.875 percent for private nonprofit organizations and 1.688 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.
To be considered for all forms of disaster assistance, survivors must first register with the Federal Emergency Management Agency at www.disasterassistance.gov.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. 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. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for property damage is Oct. 7, 2022. The deadline to apply for economic injury is May 8, 2023.
###
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. 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, 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.