SBA offers disaster assistance to Missouri businesses, residents

The Small Business Administration announces the availability of federal disaster loans to Missouri businesses and residents affected by severe storms, flooding and flash flooding that occurred in July. 

SACRAMENTO, Calif. – Low-interest federal disaster loans are available to Missouri businesses and residents affected by severe storms, flooding and flash flooding that occurred July 19-20, 2020, announced Administrator Jovita Carranza of the U.S. Small Business Administration. SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Michael L. Parson on August 18, 2020.

The disaster declaration makes SBA assistance available in Andrew, Boone, Buchanan, Callaway, Clinton, Cole, DeKalb, Miller, Moniteau, Osage and Platte counties in Missouri, and Atchison and Doniphan counties in Kansas.

“SBA is strongly committed to providing Missouri with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for businesses and residents affected by the disaster,” said Carranza. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

“Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners and renters whose property was damaged or destroyed by this disaster,” said SBA’s Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West.

In response to the Coronavirus pandemic, for this disaster SBA will establish a virtual Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application.

These services are only available for the Missouri disaster declaration as a result of severe storms, flooding and flash flooding that occurred July 19-20, 2020, and not for COVID-19 related assistance.

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 businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.