The U.S. Small Business Administration announced that a Business Recovery Center will be established to help businesses impacted by the recent severe storms, flooding and tornadoes in Volusia County. The Center opened June 10.
Through the disaster declaration, Volusia County is eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses, and most private non-profit organizations in the following adjacent counties, are eligible to apply only for SBA Economic Injury Disaster Loans: Brevard, Flagler, Lake, Marion, Orange, Putnam and Seminole in Florida.
Businesses and non-profit organizations of any size may borrow up to $2 million for physical losses. For small businesses, 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 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.
Here are the details on the center:
Volusia CountyHolly Hill Community Recreational Center
Multipurpose Room #1
1046 Daytona Avenue
Holly Hill, FL 32117
Hours: 8 a.m. to 5 p.m. Monday - Friday
Disaster loan information and application forms may be obtained by calling the SBA’s Disaster Assistance Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 9 p.m., EDT, or by sending an email to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance.
Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155. Businesses may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.
If you find yourself a a fix with your mortgage because of storm damage to your business, give me a call. I'm a Certfied Distressed Property Expert and can discuss your options with you.
Sherry Armstrong, Realtor
386-679-3191
sherry@sherryarmstrong.com
www.sherryarmstrong.com
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