ATLANTA, March 22, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced that they will open a Business Recovery Center on Monday in Scottsburg for businesses affected by the severe storms, winds and tornadoes that occurred from Feb. 29 through March 3, 2012. SBA's representatives will be on hand at the Center to issue loan applications, answer questions about the disaster loan program and explain the application process.
Scott County Economic Development Corporation 821 South Lake Road South Scottsburg, IN 47170 Opens: Mon., March 26 at 9 a.m. Hours: Mon. – Fri.; 8 a.m. to 5 p.m., until further notice Closed: Saturdays and Sundays
"Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets," saidGail Gesell, SBA's Indiana district director. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit 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.
The filing deadline to return applications for physical property damage is May 8, 2012. The deadline to return economic injury applications is December 10, 2012.
To obtain additional assistance call the SBA Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) or send an email to [email protected]. Those affected by this disaster may also apply for disasters loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.