ATLANTA – The U.S. Small Business Administration (SBA) announced today that its Business Recovery Center (BRC) in Galax, VA will close permanently on Thursday, Jan. 2, 2025. The SBA opened the BRC to help small businesses and residents apply for disaster loans due to Tropical Storm Helene that occurred on Sept. 25 through Oct. 3.
Business Recovery Center (BRC)
Independent City of Galax County
Crossroads Institute
1117 E Stuart Drive
Galax, VA 24333
Hours: Monday – Friday, 8 a.m. to 5 p.m.
Closed: Saturday and Sunday
Permanent Closing: Jan. 2 at 5 p.m.
For survivors that would like to submit an application before the deadline, SBA encourages you to apply online to receive additional disaster assistance. For more information visit sba.gov/disaster, Applicants can call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the SBA. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”
The loan amount can be up to $2 million with interest rates of 4% for small businesses with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months after the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
SBA’s Disaster Loan Program funding was replenished via the American Relief Act, 2025, which was signed into law on Dec. 21, 2024. The SBA acted immediately and, within six hours of the Act being signed into law, issued more than 21,000 outstanding commitment letters (loan offers). The SBA will continue to issue new loan offers and ensure survivors quickly understand their loan options.
The deadline to submit economic injury loan applications is July 1, 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 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.