Jefferson City small businesses get help with natural disaster recovery

1 month 2 days 1 hour ago Wednesday, July 17 2019 Jul 17, 2019 Wednesday, July 17, 2019 6:27:00 PM CDT July 17, 2019 in Continuous News
By: Austin Walker, KOMU 8 Reporter
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JEFFERSON CITY -- Businesses affected by April's severe storms, tornadoes, and flooding will have the opportunity to apply for loans.

The loans are coming from the U.S Small Business Administration. The government agency opened Wednesday in Jefferson City.

Corey Williams, a spokesperson for SBA, said this business resource center is like a buffet.

“This is kind of the one-stop shop for our business owners and non-profits to get the help that they need,” Williams said.

SBA is providing help that ranges from business Physical Disaster Loans, Economic Injury Disaster Loans and Home Disaster loans. Each loan provides coverage on small business essentials. Todd Tibbetts, the owner of TNT Sur Plus in Jefferson City, heard about SBA and came right away.

“Having a business on the river bank is a gamble and we expect this,” Tibbetts said. “So when the floods hit, I thought my business was sunk.”

Tibbetts believes for the last five years, flood insurance hasn't been reasonable.

“It’s too expensive and with being a small business, you really can't swing it,” Tibbetts said. “I am so grateful that people get to apply for these loans.”

Employees from SBA said these loans are meant are mean to get people back on their feet.

“That’s the thing about disasters, they bring people together,” Williams said. “We are all Missourians. We need here to make a difference and help each other out”

According to Williams, businesses of any size 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. These loans cover losses that are not fully covered by insurance or other recoveries.

According to the announcement, the center will be open Mondays through Fridays from 9 a.m. until 6 p.m.

Business owners who are unable to visit the business recovery center can apply online at https://disasterloan.sba.gov/ela.

The deadline to apply for property damage is Sept. 9, 2019. The deadline to apply for economic injury is April 9, 2020.

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