The U.S. Small Business Administration (SBA) has announced the opening of a Disaster Loan Outreach Center (DLOC) in Sharp County, Arkansas. This center aims to assist small businesses, private nonprofit organizations, and residents affected by severe storms, tornadoes, and flooding that occurred from April 2 to April 22.
Starting Friday, May 30, SBA customer service representatives will be available at the DLOC located at the Hardy Fire Station on Church Street in Hardy. They will provide guidance and support for those applying for disaster loans. The center welcomes walk-ins without appointments; however, individuals can schedule an appointment in advance through appointment.sba.gov.
The center's operating hours are Monday through Friday from 9 a.m. to 6 p.m., and Saturday from 9 a.m. to 1 p.m.
"When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities," said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the U.S. Small Business Administration. "At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery."
Eligible businesses and nonprofits can apply for business physical disaster loans up to $2 million to repair or replace damaged real estate, machinery, equipment, inventory, and other assets. Homeowners may borrow up to $500,000 for primary residence repairs or replacements while renters can access up to $100,000 for personal property needs.
Applicants might qualify for a loan increase of up to 20% of their verified physical damage costs for mitigation purposes such as insulating pipes or installing storm windows.
The Economic Injury Disaster Loan (EIDL) program is also available for small businesses and certain nonprofits impacted financially by these disasters. These loans address working capital needs even if no physical damage was sustained.
Interest rates start as low as 4% for small businesses, 3.62% for nonprofits, and 2.75% for homeowners and renters with terms extending up to 30 years. Payments are deferred until one year after the first loan disbursement.
To apply online or seek more information about SBA disaster assistance options visit sba.gov/disaster or contact their Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov.
Physical damage applications must be submitted by July 21, 2025; economic injury applications have a deadline of February 23, 2026.
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