SBA opens business recovery center for storm victims

SBA opens business recovery center for storm victims

PETAL, MS (WDAM) - Business owners who suffered damage from the Jan. 21 tornado have a new place to go to get financial assistance.

The U.S. Small Business Administration (SBA) has opened a Business Recovery Center at the C. E. Roy Community Center on E. 5th Street.

Businesses and private non-profit organizations can borrow up to $2 million for the repair or replacement of disaster-damaged properties, machines or equipment.

The SBA can also help with Economic Injury Disaster Loans to assist with working capital needs.

"And a business doesn't even have to have physical damage to qualify for that, as long as they're in the disaster area and they can show cause and effect," said John "Jack" Camp, a public affairs specialist with the Small Business Administration.

The center is open Monday-Saturday, 9 a.m.-6 p.m.

Applicants can also apply online at https://disasterloan.sba.gov/ela.