SBA Business Recovery Centers Close for Veterans Day; Over $73 Million in Disaster Loans Approved in New Jersey

ATLANTA, Nov. 8, 2011 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced today that the Business Recovery Centers in New Jersey will close on Friday, Nov. 11, in observation of Veterans Day and resume operations on Monday, Nov. 14. 

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SBA has approved over $73 million in disaster loans for losses caused by Hurricane Irene that occurred between Aug. 27 and Sept. 5 to New Jersey homeowners, renters and businesses of all sizes.  Anyone that has not submitted their SBA disaster loan application is encouraged to complete it as soon as possible.

SBA Business Recovery Centers (BRCs) are open at these locations:

Bergen County
New Jersey Small Business Development Center (NJSBDC) at Bergen Community College
355 Main Street
Hackensack, NJ 07601
Hours:  Mon. - Fri. 9 a.m. to 5 p.m.

Monmouth County 
Monmouth County OEM 
300 Halls Mills Road 
Freehold, NJ 07728 
Hours: Mon.- Fri. 8:30 a.m. to 5:30 p.m.

Morris County
Denville Municipal Building
1 Saint Mary's Place
Denville, NJ 07834
Hours: Mon. – Fri. 8 a.m. to 5 p.m.

Passaic County
Woodland Park Municipal Building
Community Room
5 Brophy Lane
Woodland Park, NJ 07424
Hours: Mon.-Fri. 8:30 a.m. to 5 p.m.

Union County
New Jersey Small Business Development Center (NJSBDC) at Kean University-Incubator
320 Park Avenue
Plainfield, NJ, 07060
Hours: Mon. - Fri. 9 a.m. to 6 p.m.

SBA's Customer Service Representatives at the Business Recovery Centers (BRCs) and FEMA Disaster Recovery Centers (DRCs) can issue loan applications, answer questions about the disaster loan program, explain and assist homeowners, renters and businesses with the application process.  Also, Small Business Development Center (SBDC) Counselors are available to assist business owners in completing their application package.

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 up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.

For small businesses, small agricultural cooperatives, small aquaculture businesses, and most private non-profit 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.

To obtain additional assistance call the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or send an email to [email protected].   Those affected by the disaster may also apply for disaster loans electronically from SBA's website at https://disasterloan.sba.gov/ela/.

The filing deadline to return applications for physical property damage is November 30, 2011.  The deadline to return economic injury applications is May 31, 2012.       

For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.

Contact:   Michael Lampton
Phone:  404-331-0333

SOURCE U.S. Small Business Administration

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