Williamson County Chamber: SBA's Low-Interest Disaster Loans Available In Middle Tennessee For Severe Storm And Flooding; New Hours For ...

Franklin TN

30 August, 2021

6:13 PM

Description

Press release from Williamson County Chamber: August 30, 2021 Release Date: Aug. 27, 2021 Contact: Mark Ihenacho (404) 331-0333 [email protected] Release Number: 21-522, TN 17114/17115 Follow us on Twitter, Facebook, Blogs & Instagram     SBA's Low-Interest Disaster Loans Available in Middle Tennessee for Severe Storm and Flooding; New Hours for Business Recovery Center ATLANTA – The U.S. Small Business Administration announced new hours of operation for the Business Recovery Center in Humphreys County. The Center at Waverly City Hall will operate from 8 a.m. – 4:30 p.m. Monday – Friday to assist businesses with one-on-one assistance in submitting a disaster loan application for severe storm and flooding on Aug. 21, 2021. The hours of the Center located at the Dickson County Chamber of Commerce remain unchanged. SBA encourages businesses and nonprofit organizations to come to one of the Business Recovery Centers (BRC) where SBA's Customer Service Representatives are available to answer questions about the disaster loan program and assist business owners in applying. The Business Recovery Centers are open as follows: Homeowners and renters may meet with an SBA customer service representative at any recovery center to get answers to their questions and assistance in applying for a disaster loan. Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property. Dickson County Dickson County Chamber of Commerce 205 S. Main Street Dickson, TN 37055 Opened: Thursday, Aug. 26 Hours: Monday – Friday from 8 a.m. – 4:30 p.m. Closed: All Saturdays and Sundays Humphreys County Waverly City Hall 101 E Main Street Waverly, TN 37185 Opens: Friday, Aug. 27 at 8 a.m. – 4:30 p.m. Hours: Monday – Friday from 8 a.m. – 4:30 p.m. Closed: Saturdays and Sundays Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the DLOC are encouraged to wear a face mask. Physical disaster loans are available to businesses of all sizes, nonprofit organizations, homeowners and renters in the primary counties of Dickson, Hickman, Houston and Humphreys in Tennessee. Economic Injury Disaster Loans are available to small businesses and most nonprofit organizations in the primary counties, and in the following adjacent counties: Benton, Cheatham, Lewis, Maury, Montgomery, Perry, Stewart and Williamson. Businesses and private nonprofit 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. Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a sump pump, elevation, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit 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. Interest rates are as low as 2.855 percent for businesses, 2 percent for nonprofit organizations and 1.563 percent for homeowners and renters, 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://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17144. To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362. Businesses and individuals may also obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or emailing [email protected]. Loan applications can also be downloaded at sba.gov/disaster. Completed applications 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 physical property damage is Oct. 22, 2021. The deadline to return economic injury applications is May 23, 2022. This press release was produced by Williamson County Chamber. The views expressed here are the author's own.