The U.S. Small Business Administration (SBA) has announced the opening of a Disaster Loan Outreach Center (DLOC) in Hot Spring County, Arkansas, to assist small businesses, private nonprofit organizations, and residents affected by severe storms and tornadoes from March 14-15 and April 2-22.
Starting Monday, June 16, SBA customer service representatives will be available at the Malvern DLOC to help with disaster loan applications. Walk-ins are welcome; however, appointments can also be scheduled at appointment.sba.gov. The center is located at the former USDA Service Center on Olive Street in Malvern and will operate Monday through Friday from 8 a.m. to 5 p.m., and Saturday from 9 a.m. to 1 p.m.
Additional DLOCs remain open across various counties:
In Jackson County, the Diaz City Hall location will operate until June 20. In Randolph County, services continue at Black River Technical College until June 20 as well. Sharp County offers two locations: Cave City City Hall and Hardy Fire Station—both closed on June 14 but otherwise operational during weekdays and Saturdays.
Chris Stallings of the SBA's Office of Disaster Recovery emphasized the importance of these centers: "When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities."
Eligible applicants may apply for business physical disaster loans up to $2 million or home loans up to $500,000 for property repair or replacement. Additionally, loans for mitigation improvements are available for eligible applicants.
The Economic Injury Disaster Loan program supports small businesses experiencing financial losses due to these disasters with interest rates starting as low as 4% for businesses.
Applications for physical property damage must be submitted by July 14 for March storms or July 22 for April storms. Economic injury applications are due February next year.
For more information or assistance with applications, visit sba.gov/disaster or contact SBA’s Customer Service Center at (800) 659-2955.