SBA Offers Disaster Assistance to Georgia Businesses and Residents Affected by Severe Storms and Tornadoes

Statement

Georgia businesses and residents affected by the severe storms and tornadoes on April 5-6, 2022, may apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Isabella Casillas Guzman announced.

Administrator Guzman made the loans available in response to a letter from Georgia Gov. Brian P. Kemp on April 20, 2022, requesting a disaster declaration by the SBA. Businesses and residents in the declared area can now apply for low-interest disaster loans from the SBA.

The declaration includes Bryan County and the adjacent counties of Bulloch, Chatham, Effingham, Evans and Liberty in Georgia.

"With these funds, the SBA is fulfilling its responsibility to protect the American Dream for small business owners and entrepreneurs, which is exactly how taxpayer dollars should be used," said Rep. Earl L. "Buddy" Carter (R-GA). "It's been remarkable to watch Georgia come together and support those impacted by these horrific tornadoes, but the loss of life, homes, and businesses is always tragic. Our hearts and prayers are with you, and our staff is ready to assist those who need help accessing these funds."

"SBA's mission-driven team stands ready to help Georgia's small businesses and residents impacted by the severe storms and tornadoes," said Administrator Guzman. "We're committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild."

To assist businesses and residents affected by the disaster, the SBA will open a Disaster Loan Outreach Center (DLOC) in Bryan County on Tuesday, April 26 at 11 a.m. as indicated below:

SBA Disaster Loan Outreach Center (DLOC)

Bryan County

Pembroke Police Department

154 Railroad Street

Pembroke, GA 31321

Opening: Tuesday, April 26, from 11 a.m. to 6 p.m.

Hours:

Monday -- Friday, from 9 a.m. to 6 p.m.

Saturdays, April 30 and May 7, from 10 a.m. to 2 p.m.

Closed: Sunday

Closes Permanently: Thursday, May 12 at 4 p.m.

Customer Service Representatives will be available at the DLOC to answer questions about the disaster loan program and help individuals complete their applications. 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 the DLOC are encouraged to wear a face mask.

"Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets," said SBA's Georgia District Director, Terri Denison White.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. EIDL Loan assistance is available regardless of whether the business suffered any physical property damage.

"Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property," said Kem Fleming, director of SBA's Field Operations Center East in Atlanta.

Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain, or retaining wall to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 2.94 percent for businesses, 1.875 percent for nonprofit organizations, and 1.438 percent for homeowners and renters, 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 DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17418.

Disaster loan information and application forms may also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster Completed applications should be returned to the centers or 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 June 21, 2022. The deadline to return economic injury applications is Jan. 23, 2023.

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