SBA Opens Business Recovery Centers in New Jersey
ATLANTA, Oct. 7, 2011 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration announced today the opening of Business Recovery Centers in New Jersey. These Centers will provide one-on-one assistance to business owners seeking disaster assistance for losses caused by Hurricane Irene that occurred between Aug. 27 and Sept. 5.
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"Businesses with physical damages or loss of revenue should seriously consider visiting a Center and applying for an SBA disaster business loan," said SBA District Director Al Titone. "SBA's disaster loans provide a way to help businesses get back in operation and the low interest rate and terms help make them more affordable than other types of financing." To date, SBA has approved over $28 million in disaster loans to New Jerseyeans with disaster related losses to their homes, personal property and businesses.
All Centers will open Tuesday, Oct. 11 and remain open until further notice, at the following locations and times:
Bergen County NJSBDC at Bergen Community College 355 Main Street Hackensack, NJ 07601 Open: Tues. Oct. 11, 2011 at 9 a.m. Hours: Mon. - Fri. 9 a.m. to 5 p.m. |
Monmouth County Monmouth County OEM 300 Halls Mills Road Freehold, NJ 07728 Open: Tues. Oct. 11, 2011 at 8:30 a.m. Hours: Mon.- Fri. 8:30 a.m. to 5:30 p.m. |
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Passaic County Woodland Park Municipal Building Community Room 5 Brophy Lane Woodland Park, NJ 07424 Open: Tues, Oct. 11, 2011 at 8:30 a.m. 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 Open: Tues, Oct. 11, 2011 at 9 a.m. Hours: Mon. - Fri. 9 a.m. to 6 p.m. |
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SBA's Customer Service Representatives will be on hand at the Centers to issue loan applications, answer questions about the disaster loan program, explain the application process and assist business owners in completing their applications. Also, SBDC Counselors are available to assist business complete their application package.
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.
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 October 31, 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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