The Small Business Administration has approved an Administrative Declaration for residents and business owners in Reno County affected by the Cottonwood Complex Wildland Fire March 5-16. In addition to Reno County, residents and businesses in the contiguous counties of Harvey, Kingman, McPherson, Pratt, Rice, Sedgwick and Stafford are also eligible to apply for low-interest SBA loans.
“Natural disasters disrupt families and businesses in so many ways,” said Angee Morgan, deputy director, Kansas Division of Emergency Management. “These SBA disaster loans will help get people and businesses back on their feet more quickly.”
SBA staff will open a Disaster Loan Outreach Center Tuesday, April 26 at 1 p.m. The center will be open Monday-Friday from 8 a.m. to 5 p.m. until further notice. SBA customer service representatives will be on hand to answer questions about the disaster loan program, explain the application process and help complete applications. No appointment is necessary.
The address is:
Disaster Loan Outreach Center
Reno County Courthouse
206 West First Ave.
Hutchinson, KS 67501.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of future disaster damage.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 2.94 percent for businesses, 1.875 percent for private nonprofit organizations and 1.438 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. People who are deaf, hard of hearing, or have a speech disability may dial
7-1-1 to access telecommunications relay services. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for a physical property loan is June 21, 2022. The deadline to apply for an economic injury loan is Jan. 23, 2023.