FORREST COUNTY- After the tornadoes of January in the Forrest County area the Small Business Administration (SBA) has opened a Business Recovery Center (BRC) to help those affected.
Representatives at the BRC will be able to provide information about disaster loans and answer any questions to help businesses in completing the SBA application.
The center will be open during the following times:
- C.E. Roy Community Center
- 300 E. 5th Street
- Hattiesburg, MS 39401.
Open: Thursday, Feb. 2 at 1 p.m.
Hours: Monday through Saturday, 9 a.m. – 6 p.m.
Businesses and private nonprofit organizations will be able to borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
For any small business the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the tornadoes during Jan. 20-21.
Homeowners can apply for disaster loans up to $200,000 to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
The SBA is currently offering interest rates as low as 3.125 percent for businesses and 2.5 percent for nonprofit organizations, and 1.5 percent for homeowners and renters with terms up to 30 years.
The loans are based upon the applicant’s financial condition.
Those interested can apply online using the Electronic Loan Application (ELA) through a secure website. To anyone looking to be considered for all forms of disaster assistance go to www.DisasterAssistance.gov or on your phone at m.fema.gov.
The filing deadline for physical property damage is March 27, 2017 and the deadline to return economic injury applications is Oct. 25, 2017.
For a look back on the tornadoes that shoot the Forrest County area in late January visit here: