SBA Opens Business Recovery Center in Lynnfield Massachusetts for Businesses Affected by Strip Mall Fire

ATLANTA - The U.S. Small Business Administration (SBA) announced today that it will open a Business Recovery Center (BRC) on Monday, Nov. 4, at the Chief Auxiliary Office in Lynnfield to assist business owners who were affected by the Lynnfield Strip Mall Fire that occurred on Sept. 10.

The declaration covers Essex County and the adjacent counties of Middlesex and Suffolk in Massachusetts, and Hillsborough and Rockingham in New Hampshire.

"Our Business Recovery Centers are one of the most powerful resources at SBA's disposal to support businesses in the midst of a disaster," said Francisco Sánchez, Jr., associate administrator for the SBA's Office of Disaster Recovery and Resilience. "Business owners can meet in person with our specialists to apply for SBA disaster loans and get information on the full breadth of our programs designed to help them navigate their recovery."

SBA's Customer Service Representatives are available at the center to answer questions, assist business owners complete their disaster loan application, accept documents, and provide updates on an application's status. Walk-ins are accepted, but you can schedule an in-person appointment at an SBA Business Recovery Center in advance. The center will operate as listed below.

Business Recovery Center (BRC)

Essex County

Chief Auxiliary Office

630 Salem St

Lynnfield, MA 01940

Opening: Monday, Nov. 4, at 10 a.m. to 4 p.m.

Hours: Tuesday - Friday, 8 a.m. to 4 p.m.

Closed: Saturday and Sunday

Permanently Closes: Friday, Nov. 8 at 4 p.m.

"Businesses and most private nonprofit organizations may borrow up to $2 million for working capital needs arising due to the disaster," said SBA's Massachusetts District Director Robert Nelson.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) 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.

Interest rates are 4% for small businesses and 3.25% for private nonprofit organizations with terms up to 30 years. The SBA sets loan amounts and terms based on each applicant's financial condition. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.

On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

To apply online and receive additional disaster assistance information visit sba.gov/disaster. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

The filing deadline to return economic injury applications is July 28, 2025.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Related programs: Disaster

Email[email protected]