SB A low-interest loans are now available
May 25, 2011
The U. S. Small Business Administration (SBA), Missouri Southern State University Small Business and Technology Development Center (SBTDC) and the Joplin Area Chamber of Commerce today announced the opening of a Business Recovery Center (BRC) in Joplin. The center, located in the Newman Innovation Center, 320 E. 4th St., Joplin, is specifically designed to provide key financial services to businesses impacted by the tornado. Hours effective June 15, 2011 are 9 a.m. to 6 p.m., Mondays through Fridays.

Representatives from the Small Business Administration will be on hand to answer questions about the application process for a low interest SBA disaster loan. Businesses of any size and private, non-profit organizations may apply to SBA for low-interest disaster loans of up to $2 million to repair or replace damage to real estate, leasehold improvements, machinery and equipment, inventory and other business assets. These loans cover uninsured losses or situations where the insurance coverage falls short of repair or replacement costs.

The SBA also makes low interest disaster loans to homeowners and renters who sustained damage from the disaster.

Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site here. They may also phone (800) 659-2955 for further information.

The filing deadline to return applications for property damage is July 8, 2011. The deadline to return economic injury applications is February 9, 2012.

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