Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA will close its West Des Moines Business Recovery Center at 6 p.m. on Friday, Sept. 20. “SBA opened the center to provide personalized assistance to businesses that were affected by severe storms, tornadoes and flooding,” said Sánchez.
Until the center closes, SBA customer service representatives will continue to meet with business owners to answer questions about SBA’s disaster loan program, explain the application process, help each individual complete their electronic loan application and close their approved loans. No appointment is necessary.
POLK COUNTY
Business Recovery Center
Hyatt Place West Des Moines/Jordan Creek
Hotel Boardroom
295 S. 64th St.
West Des Moines, IA 50266
Mondays - Fridays, 9 a.m. – 6 p.m.
Closes 6 p.m. Friday, Sept. 20
SBA representatives are still available at the SBA Disaster Loan Outreach Center in the affected area to explain SBA’s disaster loan program and help business owners and residents close their approved disaster loans.
Even though the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have time to apply for an apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 4 percent for businesses and 3.25 percent for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
For SBA declaration 20318 for severe storms and tornadoes that occurred April 26 - 27, 2024, the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until Feb. 14, 2025, to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury loan assistance is available regardless of whether the business suffered any property damage.
For SBA declaration 20360 for severe storms, tornadoes and flooding that occurred May 20 - 31, 2024, the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until Feb. 25, 2025, to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury loan assistance is available regardless of whether the business suffered any property damage.