Small Business Administration Opens Second Disaster Recovery Center in Selma
Released at 7:50 am on Wednesday, February 1, 2023
Selma Times Journal
The Small Business Administration opened a new disaster recovery center in Dallas County to help residents affected by the tornado that hit Selma on January 12.
Three weeks after the tornado, SBA staff still feel it’s important to give Dallas County locals every chance to recover.
“We’re opening new ones to give people more access,” said SBA public relations specialist Sharon Dooley. “Some of them are in different counties. We’re opening one in every county. and strive to provide access to disaster recovery centers for everyone affected, and we have two in Dallas County so far, one at the Felix Heights Community Center at 405 Medical Center Parkway. and another at the Dr. Michael and Catherine Bullock Community Center on Broad Street.
SBA has a Business Recovery Center to assist businesses affected by the tornado.
“We also have the BRC, which is the business recovery center,” says Dooley. “Because we provide assistance to homeowners, renters, businesses and non-profits of all sizes. Business recovery here in Selma because no business wants to be kept waiting in his DRC. He has one in the Gospel Tabernacle Church as a center.”
SBA encourages those wishing to apply to FEMA first.
If SBA is unable to assist, it will be sent back to FEMA for consideration of other grants. Since opening the DRC and BRC, SBA has had a positive response from Dallas County.
SBA loans contain a lot of information, including deadlines.
“In the DRC you can register for FEMA,” says Dooley. “SBA and FEMA are fully DRC and BRC is just SBA so you can also register for SBA. So we come in and help homeowners, renters and businesses. That’s what SBA does We offer low interest long term fixed rate loans Some loans can be borrowed up to 30 years Everyone’s situation is different The interest rate for homeowners and renters is 2.313% , renters are entitled to up to $40,000 for their personal property.Often, renters ask, what about us?So what about losing furniture, clothing, or even a disaster-damaged vehicle? If you do, you may still be eligible for a loan.”
“As far as homeowners are concerned, they could be entitled to as much as $200,000 to repair physical damage to their primary residence. It’s the main residence in. And $200,000.
They may then qualify for an additional $40,000 in personal wealth. Damage to furniture, clothing or vehicles.
Must be in declared county, plus $240,000 homeowner pays 20 for verifiable damage to home for mitigation to install storm windows or storms, or better yet. You are eligible for an additional %. This kind of disaster will happen again. “
In addition to homeowners and renters, SBA also has a lot to offer businesses.
“As far as our business is concerned, they could be eligible for up to $2 million in physical damage to their premises due to an inventory of all physical things that happened to their property.” said Dooley. “Unless they’re the primary employer, that amount could go up.”
The SBA has deadlines for filing physical damage claims for homeowners, renters, and businesses. Homeowners and renters must apply by March 16, 2023. Businesses have the opportunity to apply for so-called economic injury or idle loans. The loan supports the day-to-day operations of the company. The application deadline for that loan is October 16, 2023. To qualify, the SBA requires him to do three things.
You must have a satisfactory credit history with SBA, the ability to repay loans, and the necessary types of insurance that the state may require of a person.
There are 3 ways to apply. Visit your local DRC or BRC, apply online at disasterloanassisatnce.SBA.gov, or call 1-800-659-2955.
If you are deaf or speech impaired, you can call 711.
The SBA also attended a special convening meeting of the Dallas County Commission at the Dallas County Courthouse on Monday. SBA officials said they plan to return to the next county board meeting on Feb. 13 at the Dallas County Courthouse.