SBA Business Recovery Center in Greenfield to Relocate to West Des Moines

SACRAMENTO, Calif. - Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, announced today that SBA will relocate its Greenfield Business Recovery Center at the Greenfield City Hall in Adair County to the Hyatt Place West Des Moines/Jordan Creek in Polk County beginning Tuesday, Aug. 6 at 9 a.m. "SBA opened the centers to provide personalized assistance to businesses that were affected by severe storms, tornadoes and flooding that occurred May 20 - 31," said Sánchez.

There are currently two active SBA disaster declarations for residents and businesses in the Polk County area. The newly relocated Business Recovery Center will be able to help survivors of both declarations.

Until the Greenfield Business Recovery Center closes, SBA customer service representatives will continue to meet with business owners to answer questions about SBA's disaster loan program, explain the application process, help each individual complete their electronic loan application and close their approved loans. No appointment is necessary.

ADAIR COUNTY
Business Recovery Center
Business Office Building
132 SE Court Dr.
Greenfield, IA 50849

Mondays - Fridays, 8 a.m. - 5 p.m.
Saturdays, 8 a.m. - 1 p.m.

Closes 5 p.m. Monday, Aug. 5

POLK COUNTY
Business Recovery Center
Hyatt Place West Des Moines/Jordan Creek
Hotel Boardroom
295 S 64th St.
West Des Moines, IA 50266

Mondays - Fridays, 9 a.m. - 6 p.m.

Opens 9 a.m. Tuesday, Aug. 6

SBA representatives are still available at the federal-state Disaster Recovery Centers throughout the affected areas to explain SBA's disaster loan program and help business owners and residents close their approved disaster loans.

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 help with the cost of improvements to protect, prevent or minimize disaster damage from occurring in the future.

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 $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 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.

Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.

Applicants may apply online and receive additional disaster assistance information at 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.

For SBA declaration 20318 for severe storms, and tornadoes that occurred April 26-27, 2024, the deadline to apply for property damage is Aug. 23, 2024. The deadline to apply for economic injury is Feb. 14, 2025.

For SBA declaration 20360 for severe storms, tornadoes, and flooding that occurred May 20-31, 2024, the deadline to apply for property damage is Aug. 23, 2024. The deadline to apply for economic injury is Feb. 24, 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, 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.