SBA gives green light to use of disaster assistance loans in local counties

The U.S. Small Business Administration has granted a request from Gov. Mike Kehoe for a disaster declaration that would shore up funding for those impacted by heavy storms and tornadoes on April 29.

With the declaration, the SBA is making low-interest federal disaster loans available for small businesses, private nonprofits and residents in Barry, Christian, Dade, Dallas, Greene, Jasper, Lawrence, McDonald, Newton, Polk, Stone and Webster counties, according to a news release. Kehoe issued the request to the SBA on June 21. 

"Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets," SBA officials said in the release. "Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence."

Starting tomorrow, the SBA will offer temporary disaster loan outreach centers at the Greene County Public Safety Center in Springfield at 330 W. Scott St.; the Monett Chamber of Commerce at 200 E. Broadway St.; and the Newton County Emergency Management building in Neosho at 202 W. Brook St. The outreach centers are slated to be operational for two weeks, with the exception of July 4, and appointments are available via the SBA website. 

“When disasters strike, SBA’s disaster loan outreach centers play a vital role in helping small businesses and their communities recover,” said Chris Stallings, associate administrator of the SBA Office of Disaster Recovery and Resilience, in the release. “At these centers, SBA specialists assist business owners and residents with disaster loan applications and provide information on the full range of recovery programs available.”