SACRAMENTO, Calif. – Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA will relocate its Greenfield Business Recovery Center from the Greenfield City Hall to the Business Office Building beginning Tuesday, June 4 at 12 p.m.
“SBA opened the BRC to provide personalized assistance to Greenfield businesses affected by severe storms, tornadoes and flooding that occurred May 20 - 21. SBA customer service representatives and Iowa SBDC counselors will now be available at the center to meet with business owners to explain how an SBA disaster loan can help finance their recovery. They will answer questions about SBA’s disaster loan program, explain the application process and help each business owner complete their electronic loan application,” Sánchez said.
“Iowa SBDC business counselors are available to provide business assistance to clients on a wide variety of matters designed to help small business owners re-establish their operations, overcome the effects of the disaster and plan for their future. Services include assessing business working capital needs, evaluating the business’s strength, cash flow projections, and most importantly, a review of options with the business owner to help them evaluate their alternatives and make decisions that are appropriate for their situation,” Sánchez continued. No appointment is necessary.
ADAIR COUNTY
Business Recovery Center
Business Office Building
132 SE Court Dr.
Greenfield, IA 50849
Opens 12 p.m. Tuesday, June 4
Mondays - Fridays, 8 a.m. – 5 p.m.
Saturdays, 8 a.m. – 1 p.m.
According to Sánchez, businesses of any size 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. These loans cover losses that are not fully covered by insurance or other recoveries.
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 Disaster Loan assistance is available regardless of whether the business suffered any property damage.
For business owners who are unable to visit the business recovery center, they may apply online using SBA’s secure website at SBA.gov/disaster.
Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 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.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
SBA representatives also continue to meet with business owners and residents at disaster recovery centers located throughout the impacted area.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. 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.
The deadline to apply for property damage is July 23, 2024. The deadline to apply for economic injury is Feb. 24, 2025.
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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.
Disaster press release
IA 20360-03