SBA Opens Business Recovery Centers in Brooklyn and Farmingdale, NY
ATLANTA, Nov. 8, 2012 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced today the opening of an additional Business Recovery Center in Brooklyn, NY and a Center in Farmingdale, NY. These Centers will provide one-on-one help to business owners seeking disaster assistance for losses caused by Hurricane Sandy.
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"Businesses with physical damages or loss of revenue should seriously consider visiting the Centers and applying for an SBA disaster business loan," said Pravina Raghavan, SBA's New York district director. SBA's customer service representatives are on hand at the Centers to answer questions about the disaster loan program and assist business owners in completing their applications.
The Centers are opening as indicated below, until further notice:
Kings County
IKEA – Brooklyn
1 Beard Street
(Coney Island Room)
Brooklyn, New York 11231
Opening: Friday, Nov. 9, 2012 at 9 a.m.
Hours: Monday – Sunday, 9 a.m. to 7 p.m.
Nassau County
Farmingdale State College
SBDC Training Center
2350 Broad Hollow Road
Farmingdale, New York 11735
Opening: Friday, Nov. 9, 2012 at 9 a.m.
Hours: Monday – Friday, 9 a.m. to 7:00 p.m.
Saturday and Sunday, 10 a.m. to 5 p.m.
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 businesses engaged in aquaculture, 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.
Interest rates are as low as 3 percent for non-profit organizations and 4 percent for businesses 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://disasterloan.sba.gov/ela.
Individuals and business owners who sustained losses in the designated counties in New York can apply for assistance by calling 1-800-621-FEMA (3362). Disaster assistance applicants, who have a speech disability or hearing loss and use TTY, should call 1-800-462-7585 directly; for those who use 711 or Video Relay Service (VRS), call 1-800-621-3362. The toll-free telephone numbers will operate from 7 a.m. to 10 p.m. (local time) seven days a week until further notice. Those in affected areas with access to the internet may register by web enabled mobile device at m.fema.gov, or online at www.disasterassistance.gov.
Additional details on the locations of Disaster Recovery Centers and the loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an email to [email protected]. Loan applications can be downloaded from www.sba.gov. 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 December 31, 2012. The deadline to return economic injury applications is July 31, 2013.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.
Contact: Michael Lampton
Phone: 404-331-0333
Release Number: 13-069, NY 13365/13366
SOURCE U.S. Small Business Administration
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