Small business loans available for people affected by January storms

Small business loans available after recent tornadoes

BIRMINGHAM, Ala. (WBRC) - A public affairs specialist with the Small Business Administration said several counties are included in a disaster relief plan for storm and tornado damage that happened in January 2021.

They include Jefferson, Tuscaloosa, Bibb, Blount, St. Clair, Shelby, and Walker counties.

Help is available for business owners, home owners and renters and non-profits that had physical or economic damage in those areas. The SBA is offering affordable, long term low interest loans to people with damage from storm that happened on January 25th and 26th.

According to the SBA, even though places like Tuscaloosa County did not suffer physical damage from storms that month, some people here could still qualify for help.

“A business located in Tuscaloosa that may have had customers in Jefferson County where tornadoes occurred and may have seen some interruption of business or a decrease may apply for economic injury loan. So it does not necessarily have suffer physical damage to qualify for an economic injury loan which in essence is working capital,” Roberto Baltodano, a public affairs specialist with the Small Business Administration told WBRC Friday.

There are several deadlines that have to be met for you to turn in paperwork and qualify for help. The deadline for filing an application for physical damage is June 1, 2021. The deadline to file for economic injury is January 3, 2022.

You can apply online at DisasterLoan.sba.gov. For questions or assistance with applying, you can call (800) 659-2955.

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