UNION COUNTY — The U.S. Small Business Administration opened a Business Recovery Center in Plainfield and other parts of the state today. These centers will provide one-on-one assistance to business owners seeking disaster assistance for losses caused by Hurricane Irene that occurred between Aug. 27 and Sept. 5.
All centers will remain open until further notice. The Union County Business Recovery Center is located at the New Jersey Small Business Development Center (NJSBDC) at Kean University-Incubator, 320 Park Avenue, Plainfield. It is open Monday – Friday from 9 a.m. to 6 p.m.
SBA’s Customer Service Representatives will be on hand at the centers to issue loan applications, answer questions about the disaster loan program, explain the application process and assist business owners in completing their applications. Also, SBDC counselors are available to assist business owners with completing their application package.
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
To obtain additional assistance call, the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or send an email to email@example.com. Those affected by the disaster may also apply for disaster loans electronically from SBA’s website at https://disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is Oct. 31, 2011. The deadline to return economic injury applications is May 31, 2012.
Connect with NJTODAY.NET
Join NJTODAY.NET's free Email List to receive occasional updates delivered right to your email address!