PEARL, Miss. – The U.S. Small Business Administration is offering assistance to residents of Covington, Jefferson Davis and Jones Counties. These three counties were declared federal disaster areas in response to the severe storms that impacted the state on April 12, 2020.
Impacted businesses and residents of Covington, Jefferson Davis and Jones counties can now apply for low-interest disaster loans from the SBA, which includes both Physical and Economic Injury Disaster Loans.
Additionally, impacted small businesses and most private non-profit organizations in adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans. The adjacent counties include: Forrest, Jasper, Lamar, Lawrence, Marion, Perry, Simpson, Smith and Wayne.
Businesses and private non-profit organizations may borrow up to $2 million to repair or replace disaster damaged real estate, equipment or other assets. Homeowners in the three disaster declared counties may borrow up to $200,000 to repair or replace damaged or destroyed real estate and they are also eligible to borrow up to $40,000 to replace or repair personal property.
Applicants can apply online by visiting the SBA’s website: https://disasterloanassistance.sba.gov/
The SBA has also opened a Virtual Disaster Loan Outreach Center/Business Recovery Center to help storm victims apply online during the COVID-19 pandemic. The Virtual Outreach Center is open Monday through Friday from 8:00 AM until 5:00 PM. Storm victims can call 404-331-0333 and use extensions: 2122; 2123; and 2106 during these hours to speak with a disaster assistance professional. Additional information can also be obtained by emailing FOCE-Help@sba.gov.
The filing deadline for physical property damage applications is June 15, 2020 and the deadline for economic injury applications is January 19, 2021.