The First Business Recover Center (BRC) in Tennessee is OPEN

The United States Small Business Administration (SBA) has opened a Business Recovery Center (BRC) in Davidson County – as of  Monday, March 9 to help businesses apply for disaster loans. 

SBA representatives at the Center can provide information about disaster loans, answer questions and assist businesses in completing the SBA application.

The Center is located as indicated below and will operate until further notice:

WHO IS ELIGIBLE?

WHO CAN GET SBA DISASTER LOAN ASSISTANCE?

• Churches, as nonprofits
• Businesses (LARGE and SMALL) and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 
• For small businesses and most private nonprofit 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.
• SBA Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. 
• Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.

Interest rates are as low as

3.75 percent for businesses,

2.75 percent for nonprofit organizations and

1.563 percent for homeowners and renters with terms up to 30 years. 

IS THERE AN ONLINE APPLICATION?

Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at DisasterLoan.sba.gov.

The filing deadline to return applications for physical property damage is  May 4, 2020.  The deadline to return economic injury applications is Dec. 7, 2020.

Still, SBA Disaster Loan Representatives are on-site at the Business Recovery Center at Jefferson Street Baptist Church, as of March 9; and at the Metro Nashville Davidson County disaster assistance centers, as of March 8 at Hadley Park Community Center, East Park Community Center, or Hermitage Community Center.

IS THERE a BUSINESS RECOVERY CENTER CLOSER TO ME?

Centers will be opened in multiple locations in Tennessee -  near and co-located with FEMA Disaster Recovery Centers. 

Additional details on the locations of Disaster Recovery Centers in Davidson County, Wilson  County, and Putnam County and the SBA loan application process can be obtained by calling the SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov. 

WHAT ABOUT FEMA?

All citizens affected by the tornado – Business Owners, Homeowners, Renters, Churches, Employees of Businesses Affected – need contact FEMA to be considered for all forms of disaster assistance, whether from FEMA or SBA, or both where applicable.

HOW TO CONTACT AND BE REGISTERED WITH FEMA?

Applicants should register with FEMA online at DisasterAssistance.gov or download the FEMA mobile app.

If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362 (FEMA).

WHERE TO GET FURTHER INFORMATION?

Additional details on the SBA loan application process; and locations of FEMA Disaster Recovery Centers in Davidson County, Wilson  County, and Putnam County can be obtained by calling FEMA (800 621 3362 (FEMA) or calling SBA Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov.