Oklahomans impacted by the recent severe winter storms – whether at home or at your business–check out the U.S. Small Business Administration (SBA) services and resources. Disaster assistance loans are also available through the SBA.
Oklahoma Small Business Development Centers (OKSBDCs) are providing the following services to help small businesses impacted by the disaster (no charge for any services):
- Counseling for financial, accounting, marketing, and other post-disaster challenges
- Management and technical assistance
- Business planning to help business owners re-establish their operations and plan for their future
- Help in reconstructing damaged or destroyed business records
- Assistance with updating or rewriting business plans
- Assistance with accessing government contracts and procurement related to the disaster
To learn more about these free services, contact OKSBDC by email at [email protected], visit the Oklahoma OKSBDC website or visit America’s nationwide network of OKSBDCs website.
Through the end of March, the SBA is also offering weekly, live, virtual presentations about the declaration, benefits associated with this declaration, and what resources are available to Oklahomans as a result.
Winter Weather Disaster Declaration – Discussion and Benefits Review
Disaster Assistance Loans
The U.S. SBA is offering low-interest disaster loans to non-farm businesses of all sizes, private nonprofits, homeowners and renters who suffered losses caused by severe winter storms that occurred February 8 through 20, 2021. The following counties are eligible:
- Canadian
- Carter
- Cherokee
- Comanche
- Cotton
- Hughes
- Jefferson
- Le Flore
- McIntosh
- Oklahoma
- Okmulgee
- Osage
- Pittsburg
- Stephens
- Tulsa
- Wagoner
Types of loans available are:
Individuals and Families:
- Homeowners: up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
- Renters: up to $40,000 to repair or replace personal property.
Businesses:
- Property Damage: up to $2,000,000 to repair or replace real estate, machinery and equipment, inventory and other assets that were damaged or destroyed (available to businesses of any size and private, non-profit organizations).
- Economic Injury: only for small businesses and most private non-profit organizations suffering adverse financial impacts of the disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal operations resume
For additional assistance, SBA has established a Virtual Disaster Loan Outreach Center that is open Mondays – Fridays, 8 am to 8 pm EST. You can contact an SBA customer service representative via email at [email protected] or by phone at 800-659-2955. SBA will answer specific questions about how a disaster loan may help each survivor recover from the disaster damage and will provide one-on-one assistance in completing applications for these loans. You can apply online at https://disasterloanassistance.sba.gov.
(Source: New Pioneer Newsletter, March 2021.)