With so many Arkansas and Oklahoma business owners dealing with the aftermath of the severe storms and flooding, it was great to see the recently announced openings of SBA Recovery Centers in Ft. Smith and Tulsa by the U.S. Small Business Administration.
As a champion for and seller of small businesses across the Mid-South, Confidential Business Intermediaries applauds the move by the SBA to bring its services to those business owners working to rebuild and reopen their businesses following the late May severe storms and flooding.
“We believe in small business owners and understand the impact of these storms,” CBI founder Carl Grimes said. CBI’s locally owned offices in Ft. Smith and Tulsa had team members, family and friends who suffered property damage as a result of these severe storms. “It’s great to see SBA step forward to help and we’re eager to spread the word throughout our networks,” explained CBI founder Carl Grimes.
The SBA Recovery Centers will serve as a one-stop shop to help business owners with important detail about SBA disaster loans available to help finance their recovery. Businesses of any size and nonprofits may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory or other business assets. These loans cover losses that are not fully covered by insurance or other recoveries. No appointments are necessary, and all services are provided free of charge. Business assistance to owners will include guidance on re-establishing operations, overcoming the effects of the disaster and planning for the future.
| U.S. SBA Business Recovery Centers |
| Arkansas: Ft. Smith SBA Business Recovery Center 7000 Taylor Ave., Suite 1 (located next to the Fort Chaffee Redevelopment Authority) Monday-Friday 9 a.m. to 6 p.m. Oklahoma : Tulsa SBA Business Recovery Center 914 Greenwood Ave. Room 213 at Langston University Monday-Thursday 9 a.m. to 6 p.m. Friday 7:30 a.m. to 3 p.m. |
Deadline to Apply
The deadline to apply for property damage is August 7, 2019.
The deadline to apply for economic injury is March 9, 2020.
Online Application
Business owners unable to visit a business recovery center, may apply online using SBA’s secure website at https://disasterloan.sba.gov/ela.
SBA Contact
Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information. Individuals who are deaf or hard of hearing may call (800) 877-8339.
Disaster Loans Assistance Eligible Counties
Primary Arkansas Counties
Arkansas, Conway, Crawford, Desha, Faulkner, Jefferson, Logan, Perry, Pope, Pulaski, Sebastian, Yell
Contiguous Counties
Arkansas: Chicot, Cleburne, Cleveland, Drew, Franklin, Garland, Grant, Johnson, Lincoln, Lonoke, Madison, Monroe, Montgomery, Newton, Phillips, Prairie, Saline, Scott, Searcy, Van Buren, Washington, White.
Oklahoma: Adair, Le Flore, Sequoyah
During its 25-year history, CBI has worked alongside business owners to help guide them on a range of issues including business continuity planning, business expansion, franchise & business acquisition, mergers, access to capital through CBIs Loans 4 Business programs, exit strategies and managing the confidential sale of a business.
