The U.S. Small Business Administration (SBA) has opened a Business Recovery Center (BRC) in Hardin County to aid small businesses, nonprofits, and residents affected by severe weather events that began on April 2. These events included storms, tornadoes, and flooding.
Starting Tuesday, May 13, SBA customer service representatives will be available at the BRC to provide guidance on the disaster loan program. They will assist with the application process and answer any questions individuals may have. Walk-ins are welcome, though appointments can be scheduled in advance at appointment.sba.gov.
The BRC is located at KY State Police #4 Building G, 954 Cameron Ponder Drive, Elizabethtown, KY 42701. Its hours of operation are Monday through Friday from 9 a.m. to 6 p.m., Saturday from 9 a.m. to 3 p.m., and closed on Sundays.
Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA stated: “SBA’s Business Recovery Centers have consistently proven their value to business owners following a disaster.” He emphasized that these centers offer face-to-face meetings with specialists who help guide business owners through the loan application process.
The SBA's Economic Injury Disaster Loan (EIDL) program is available for small businesses and private nonprofit organizations that suffered financial losses due to the disaster. However, agricultural producers are generally not eligible unless they operate small aquaculture enterprises.
EIDLs aim to cover working capital needs caused by disasters even if there was no physical damage to the business or nonprofit organization. Loans can be used for various expenses such as fixed debts and payroll.
Businesses may apply for up to $2 million in physical disaster loans for repairing or replacing damaged assets like real estate or equipment. Homeowners can borrow up to $500,000 for primary residence repairs while renters may access up to $100,000 for personal property replacement.
Loan applicants might also qualify for an increase of up to 20% based on verified damages for mitigation purposes such as installing storm shelters or improving drainage systems.
Interest rates start at 4% for businesses, 3.62% for nonprofits, and 2.75% for homeowners and renters with terms extending up to 30 years. Payments do not begin until one year after receiving the first loan disbursement.
To apply online or learn more about disaster assistance visit sba.gov/disaster or contact SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. Telecommunications relay services are available by dialing 7-1-1.
Deadlines are set for June 23, 2025, for physical property damage applications and January 26, 2026, for economic injury applications.
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