Small Business Administration available to help tornado-impacted businesses

Local News

HARRISON TOWNSHIP, Ohio (WDTN) – The Small Business Administration is now set up to help businesses, nonprofits, and homeowners affected by the tornadoes.

There are three ways you can apply for a SBA disaster loan: online, calling the SBA Customer Service Center at 800-659-2955 and asking them to mail you a packet, or coming to one of their two recovery centers – one in Greene County, the other in Montgomery County.

In Greene County, the Business Recovery Center at the Beavercreek Chamber of Commerce at 3210 Beaver-Vu Drive.

In Montgomery County, the Business Recovery Center is at the Harrison Township Community Center located at 5945 North Dixie Drive in Dayton.

Both centers are open from 8 am until 5 pm Monday through Friday until further notice.

Following the presidential disaster declaration for 10 Ohio counties – the Small Business Administration set up this recovery center at the Harrison Township Community Center.

Many business owners like Jack Koogler, whose truck and trailer repair shop was devastated by the tornadoes, are waiting to apply.

“This is a great thing because we could really use the help, because we’re open, but we’re not doing any work, and I’ve got friends who lost everything. I already called them, they’re on their way down. They didn’t know about it, so everybody could use a little help,” he said.

There are three types of disaster loans available, but you must have credit and income to apply:

  • Business Physical Disaster Loans, which include non-profit organizations
  • Economic Injury Disaster Loans intended to help with long-term recovery
  • Home Disaster Loans

The loans’ interest rates depend on whether applicants have credit available elsewhere.

The applications are being expedited, but the deadline to apply for physical property damage is August 19, 2019, while the economic injury application is due March 18, 2020.

You can also apply online or find more information at this website.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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