ATLANTA, May 22, 2014 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced today that its Business Recovery Center in Escambia County will be closed on Monday, May 26 in recognition of Memorial Day. Normal operations will resume on Tuesday, May 27. The Center is staffed by SBA Customer Service Representatives that can answer questions, help with the application process and assist those applicants who want to apply on-line to complete the Electronic Loan Application.
The Greater Pensacola Chamber partnered with SBA to help businesses, including owners of rental property that were affected by the severe storms, tornadoes, high winds and flooding that occurred on April 28 through May 6, 2014, to apply for low-interest SBA disaster loans. The location of the SBA Business Recovery Center (BRC) and hours of operation are:
GREATER PENSACOLA CHAMBER
117 W. Garden Street
Pensacola, FL 32502
Hours: 8 a.m. to 5 p.m., Monday – Friday
Closed on Monday, May 26, normal operations resume on Tuesday, May 27
Businesses and private non-profit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 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 of all sizes, 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.
Interest rates are as low as 2.188 percent for homeowners and renters, 2.625 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to email@example.com.
The filing deadline to return applications for physical property damage is July 7, 2014. The deadline to return economic injury applications is February 6, 2015.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov/disaster.
Release Number: 14-243, FL 13971/13972
Contact: Michael Lampton
Phone: (404) 331-0333
SOURCE U.S. Small Business Administration