SBA Opens Business Recovery Center In Gulf Shores

The U.S. Small Business Administration (SBA) has opened a Business Recovery Center at the Gulf Shores Activity Center at 260 Clubhouse Drive to help businesses impacted by Hurricane Sally, WKRG recently reported. During the office’s hours, 8 a.m.-8 p.m., seven days a week, SBA representatives at the location provide information about disaster loans, answer questions and help businesses complete the SBA Electronic Loan Application. Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace real estate, machinery and equipment, inventory, etc. damaged or destroyed by the storm. Applicants may be eligible for a loan amount increase up to 20% of their SBA-verified physical damages for mitigation purposes (deadline: November 19). Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to enhance property and occupant protections from future disasters. The SBA also offers “Economic Injury Disaster Loans” to help meet working capital needs caused by the disaster for small businesses, small agricultural cooperatives and most private nonprofit organizations (deadline: June 21, 2021). This assistance is available regardless of whether the business suffered physical property damage. Applicants should first register with the Federal Emergency Management Agency or download its app.