Home » NEWS » Banking & Finance » SBA opens oil spill recovery centers

SBA opens oil spill recovery centers

SOUTH MISSISSIPPI — The U.S. Small Business Administration (SBA) has opened four Business Recovery Centers in Mississippi today to help small businesses and most private non-profit organizations of all sizes affected by the Deepwater BP oil spill.

“Due to the amount of economic losses caused by the BP oil spill in Mississippi, we want affected businesses to have a resource where they can meet individually with SBA representatives and find out how a low-interest disaster loan can help them recover,” said Frank Skaggs, director of SBA’s Disaster Field Operations Center in Atlanta.

The centers, all open from 8 a.m. until 5 p.m., are located at the George County Emergency Operations Center in Lucedale, the Civic Center in Bay St. Louis, the Jackson County Fairgrounds Ticket Office in Pascagoula and the Stone County Courthouse in Wiggins.

Eligible small businesses in Forrest, George, Greene, Hancock, Harrison, Jackson, Lamar, Marion, Pearl River, Perry and Stone counties may qualify for Economic Injury Disaster Loans up to $2 million. The SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.

Interest rates are 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Eligibility for an EIDL is determined by the SBA based on the size and type of business and its financial resources. The SBA sets loan amounts and terms based on each applicant’s financial condition.

Business owners unable to visit one of the Centers may obtain applications and program information by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities) Monday through Friday from 8 a.m. to 6 p.m.; Saturday and Sunday from 9 a.m. to 5:30 p.m. EDT or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to one of the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155.

Business Owners may apply for disaster loans on SBA’s secure website at https://disasterloan.sba.gov/ela/.

The deadline to return economic injury applications is Feb. 14, 2011.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

6 comments

  1. I’m thankful there is SBA.They are utterly helpful to the small businesses especially when hard times come and these businesses need financial support.

Leave a Reply

Your email address will not be published. Required fields are marked *

*