The U. S. Small Business Administration (SBA) announced today that due to a steady decrease of activity, Business Recovery Centers (BRCs) in Dane, Juneau, Sauk and Vernon counties in Wisconsin will cease operations on Friday, Dec. 14 at the close of business.
Businesses that sustained physical losses or economic injury due to severe storms, tornadoes, straight-line winds, flooding and landslides from Aug. 17 through Sept. 14, 2018 are encouraged to submit an SBA disaster loan application before it’s too late. SBA representatives at the BRCs can provide information about disaster loans, answer questions and help businesses in completing the SBA application. The Centers are located as indicated below.
Dane County: SBA Wisconsin District Office - Madison, 740 Regent St., Suite 100 Madison. Hours: Weekdays, 8 a.m. to 5 p.m. Closed: Saturday and Sunday Closing: Friday, Dec. 14 at 5 p.m.
Juneau County: Juneau County Economic Development Corporation, 122 Main St., Camp Douglas. Hours: Weekdays, 8 a.m. to 5 p.m. Closed: Saturday and Sunday. Closing: Friday, Dec. 14 at 5 p.m.
Sauk County: Reedsburg City Hall, 134 S. Locust St., Reedsburg. Hours: Weekdays, 8 a.m. to 4:30 p.m. Closed: Saturday and Sunday. Closing: Friday, Dec. 14 at 5: p.m.
Vernon County: Vernon County – Basement Conference Room, 318 Fairlane Dr., Viroqua. Hours: Weekdays, 8 a.m. to 5 p.m. Closed: Saturday and Sunday. Closing: Friday, Dec. 14 at 5 p.m.
“The SBA is committed to facilitating economic recovery in this disaster. We want area 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 Kem Fleming, director of SBA’s Field Operations Center East in Atlanta.
Businesses and private non-profit organizations of any size may qualify for loans up to $2 million. The SBA offers economic injury loans to help meet working capital needs caused by the disaster. The rates on these loans are 3.675 percent for businesses and 2.5 percent for nonprofit organizations with terms up to 30 years. Eligibility for these working capital loans are based on the size and type of business and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at Disasterloan.sba.gov.
Applications and program information are available by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing email@example.com. Loan applications can also be downloaded at www.sba.gov. Completed applications should be returned to a center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage is Dec. 17. The deadline for economic injury applications is May 18, 2019.