|SBA Opens Business Recovery Center In Autauga County To Assist Residents With Applying For Disaster Loans|
Contact: KatherineKawonza, Public Affairs Specialist Email: Katherine.firstname.lastname@example.org Cell Phone: 256.669.8213
SBA Open Business Recovery Center inAutauga County to Assist Alabamians
with Applying for a Disaster Loan
The U.S. Small Business Administration has opened a BusinessRecovery Center (BRC) in Autauga County today at noon Friday, Jan. 27, at the PrattvilleArea Chamber of Commerce. 131 N. Court Street, Prattville, AL 36067. SBA Customer Service Representatives are on-siteto meet one-on-one with Alabama citizens applying for SBA disaster loans forlosses due to severe storms, straight-line winds and tornadoes that occurredJan. 12.
Autauga County Business Resource Center
Where: Prattville Area Chamber of Commerce
Address: 131 N. Court Street, Prattville, AL 36066
Hours: Monday- Friday, 8 AM to 5 PM; Saturday, 8 AM to 1 PM; Closed on Sunday
Our Business Recovery Centers are one of the most powerfulresources at SBA’s disposal to support business owners in the midst of adisaster,” said Francisco Sanchez, Jr., Associate Administrator, Office ofDisaster Assistance. “Business owners can meet in-person with our specialiststo apply for SBA disaster loans and get information on the full breadth of ourprograms designed to help them navigate their recovery.”
The disaster declaration includes Autauga, Coosa, Dallas,Elmore and Hale counties in Alabama, which are eligible for both Physical andEconomic Injury Disaster Loans from the SBA. Small businesses and most privatenonprofit organizations in the following adjacent counties are eligible toapply only for SBA Economic Injury Disaster Loans (EIDLs): Bibb, Chilton, Clay,Greene, Lowndes, Macon, Marengo, Montgomery, Perry, Shelby, Talladega,Tallapoosa, Tuscaloosa, and Wilcox in Alabama
Businesses and private nonprofit organizations of any sizemay borrow up to $2 million to repair or replace disaster-damaged or destroyedreal estate, machinery and equipment, inventory, and other business assets.
For small businesses, small agricultural cooperatives, smallbusinesses engaged in aquaculture and most private nonprofit organizations, theSBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capitalneeds caused by the disaster. Economic Injury Disaster Loan assistance isavailable regardless of whether the business suffered any physical propertydamage.
Disaster loans up to $200,000 are available to homeowners torepair or replace disaster-damaged or destroyed real estate. Homeowners andrenters are eligible for up to $40,000 to repair or replace disaster-damaged ordestroyed personal property.
Interest rates are as low as 3.305 percent for businesses,2.375 percent for nonprofit organizations, and 2.313 percent for homeowners andrenters, with terms up to 30 years. Loan amounts and terms are set by the SBAand are based on each applicant’s financial condition.
Building back smarter and stronger can be an effectiverecovery tool for future disasters. Applicants may be eligible for a loanamount increase of up to 20 percent of their physical damages, as verified bythe SBA, for mitigation purposes. Eligible mitigation improvements may includea safe room or storm shelter, sump pump, elevation, retaining walls, andlandscaping to help protect property and occupants from future damage caused bya similar disaster.
“The opportunity to include measures to help prevent futuredamage from occurring is a significant benefit of SBA’s disaster loan program,”said SBA Associate Administrator Francisco Sanchez, Jr. “I encourage everyone toconsult their contractors and emergency management mitigation specialists forideas and apply for an SBA disaster loan increase for funding.”
Applicants may apply online using the Electronic LoanApplication (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/and should apply under SBA declaration # 17759.
To be considered for all forms of disaster assistance,applicants should register online at DisasterAssistance.gov or download theFEMA mobile app. If online or mobile access is unavailable, applicants shouldcall the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay orVideo Relay Services should call 800-621-3362.
Disaster loan information and application forms can also beobtained by calling the SBA’s Customer Service Center at 800-659-2955 (if youare deaf, hard of hearing, or have a speech disability, please dial 7-1-1 toaccess telecommunications relay services) or sending an email to DisasterCustomerService@sba.gov.Loan applications can also be downloaded from sba.gov/disaster. Completedapplications 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 physicalproperty damage is March 16, 2023. The deadline to return economic injuryapplications is Oct. 16, 2023.
About the U.S. Small Business Administration
Recently,U.S. SBA Administrator Isabella Casillas Guzman announced a policy changegranting 12 months of no payments and 0 percent interest. This pertains to alldisaster loans approved in response to disasters declared on or after Sept. 21,2022, through Sept. 30, 2023. This policy change will benefit disastersurvivors and help them to decrease the overall cost of recovery by reducingthe amount of accrued interest they must repay. Details are available throughthe SBA Disaster Assistance Customer Service Center at 800-659-2955.Individuals with verbal or hearing impairments may dial 7-1-1 to access telecommunicationsrelay services from 8 a.m. to 8 p.m. ET, Monday to Friday, or email: DisasterCustomerService@sba.gov.
The U.S.Small Business Administration helps power the American dream of businessownership. As the only gotoresource and voice for small businesses backed by the strength of the federalgovernment, the SBA empowers entrepreneurs and small business owners with theresources and support they need to start, grow or expand their businesses, orrecover from a declared disaster. It delivers services through an extensivenetwork of SBA field offices and partnerships with public and privateorganizations. To learn more, visit www.sba.gov