ALABAMA (SBA) — Alabama businesses and residents affected by severe weather and a tornado on Jan. 19, can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.
Administrator McMahon made the loans available in response to a letter from Alabama Gov. Kay Ivey on Feb. 14, requesting a disaster declaration by the SBA. The declaration covers Elmore County and the adjacent counties of Autauga, Chilton, Coosa, Macon, Montgomery and Tallapoosa in Alabama.
“With the approval of my request for federal assistance, the Small Business Administration is providing a much needed opportunity for recovery funding to the citizens of Wetumpka,” Governor said Ivey. “Many individuals and businesses will benefit greatly from the federal disaster loans that SBA offers as they continue to recover following the devastating tornado that heavily damaged parts of the community.”
SBA’s Customer Service Representatives will be available at the Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications.
The Center is located in the following community and is open as indicated:
- Elmore County Commission – 100 E. Commerce Street, Wetumpka, Ala. 36092
- Opening: Saturday, Feb. 23, from 10 a.m. to 2 p.m.
- Hours: Monday through Friday, 9 a.m. to 6 p.m.
- Saturdays: 10 a.m. to 2 p.m.
- Closed: Sunday, Feb. 24
- Closes: Saturday, March 2 at 2 p.m.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
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.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoan.sba.gov. 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 by emailing firstname.lastname@example.org. Loan applications can also be downloaded at www.sba.gov. Completed applications should be returned to the center or 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 April 22, 2019. The deadline to return economic injury applications is November 21, 2019.