WASHINGTON – Low interest disaster loans U.S. Small Business Administration (SBA) are available to businesses and residents of Mississippi following the announcement of a presidential declaration of disaster due to Hurricane Ida which occurred from August 28 to September 1, 2021.
“The SBA’s mission-oriented team is ready to help small businesses and Mississippi residents affected by Hurricane Ida,” said Administrator of the SBA Isabella Casillas Guzman. âWe are committed to providing federal disaster loans quickly and efficiently, with a client-centered approach to help businesses and communities recover and rebuild. “
The disaster declaration covers Amite, Hancock, Harrison, Jackson, Pearl River, Pike, Walthall and Wilkinson in Mississippi, which are eligible for SBA Physical and Economic Disaster Loans. Small businesses and most private non-profit organizations in the following adjacent counties can only apply for SBA Economic Disaster Loans: Adams, Forrest, Franklin, George, Lamar, Lawrence, Lincoln, Marion, Stone in Mississippi; Mobile in Alabama; and the parishes of Concordia, East Feliciana, Saint Helena, Saint Tammany, Tangipahoa, Washington and West Feliciana in Louisiana.
To assist businesses and residents affected by the disaster, the SBA will open a Disaster Recovery Center (BRC) as outlined below:
Pearl River County
Poplarville Community Safe 124 Rodeo Street
Poplarville, MS 39740
Vernissage: Wednesday October 27 from 12 p.m. to 6 p.m..
Normal hours: Monday to Friday
10:00 am – 6:00 pm
Saturdays from noon to 4 p.m.
Close on Sunday
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 CRBs are encouraged to wear a face mask.
Businesses and private nonprofits of any size can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. Applicants may be eligible for an increase in the loan amount up to 20 percent of their physical damage, as verified by the SBA, for mitigation purposes. Qualifying mitigation upgrades may include a sump pump, elevation, French drain, or retaining wall to help protect the property and occupants from future damage from a similar disaster.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations, the SBA offers Economic disaster loans (EIDL) to help meet the working capital needs caused by the disaster. Economic Damage Claim Assistance is available whether or not the business has suffered property damage.
Disaster loans of up to $ 200,000 are available to homeowners to repair or replace real estate damaged or destroyed by a disaster. Homeowners and tenants are entitled to up to $ 40,000 to repair or replace personal property damaged or destroyed by a disaster.
Interest rates are as low as 2,855 percent for companies, 2 percent for non-profit organizations and
1,563 percent for owners and tenants, with terms of up to 30 years. The amounts and conditions of the loan are fixed
by the SBA and are based on each applicant’s financial situation.
Applicants can apply online using the Electronic Loan Application (ELA) through the SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/, and should apply under SBA Statement # 17234, not for the COVID-19 incident.
To be considered for all forms of disaster assistance, applicants should register online at Disaster Assistance.gov or download the FEMA mobile app. If online or mobile access is not available, applicants should call the FEMA toll-free helpline at 800-621-3362. Those using 711 relay or video relay services should call 800-621-3362.
Businesses and individuals can also obtain information and loan applications by calling the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or by sending an email to [email protected] Loan applications can also be downloaded from sba.gov/catastrophe. Completed applications should be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline for returning property damage claims is December 21, 2021. The deadline for returning claims for economic damage is July 22, 2022.