SBA Opens Business Recovery Center in Cedar Rapids
Release Date: June 23, 2008Release Number: 1763-039

» More Information on Iowa Severe Storms, Tornadoes, and Flooding

DES MOINES, Iowa -- The U. S. Small Business Administration (SBA) today announced the opening of a Business Recovery Center (BRC) in Cedar Rapids. The center is specifically designed to provide a wide range of services to businesses impacted by the flooding.

Due to the severe property damage and economic loss these floods inflicted on businesses in Cedar Rapids and surrounding communities, we want to provide every available service to help get them back on their feet, said Steven Smith, Chief of the Executive Office of Disaster Strategic Planning and Operations. This center will provide a single one-stop location for businesses to access a variety of specialized help, he added.

The SBA Business Recovery Center will open Tuesday, June 24 at 9 am in the Westdale Mall on the lower level across from Bath and Body Works, 2600 Edgewood Road SW, Cedar Rapids. The BRC will operate Mondays through Saturdays from 9 am to 6 pm, until further notice. Specialists from the following organizations will be available to meet individually with each business owner:

U. S. Small Business Administration (SBA) Disaster LoansU. S. Small Business Administration (SBA) Government Contracting Iowa Small Business Development Centers (SBDCs)Service Core of Retired Executives (SCORE)Womens Business CenterCity of Cedar Rapids

According to Joseph Folsom, SBA s Iowa District Director, SBA customer service representatives will meet individually with business owners to explain how an SBA disaster loan can help finance their recovery. They will provide program information, answer questions and help businesses apply for this much needed financial help. SBA will also have a specialist to assist small businesses in accessing government contacting opportunities. We are anxious to provide all necessary assistance and answer their questions. All they need to do is come in, he said.

SBDC, SCORE and WBC counselors will offer counseling on a wide variety of matters designed to help these owners re-establish their operations and plan for their future.
They will also offer help in reconstructing lost business records,” he continued. These counselors will also offer assistance on updating or rewriting business plans. City officials will provide information on coordinating benefits and a variety of other city services from the new Business Recovery Center. The city’s Planning and Development department is also located in Westdale Mall for information about obtaining building permits and debris removal.

Businesses of any size and private, non-profit organizations may apply to SBA for low-interest disaster loans of up to $1.5 million to repair or replace damage to real estate, leasehold improvements, machinery and equipment, inventory and other business assets. These loans cover uninsured losses or situations where the insurance coverage falls short of the repair or replacement costs.

For small businesses only, SBA also offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs created by the disaster. EIDL assistance is available regardless of whether the business suffered property damage.
Business owners may also get help from SBA representatives at any Disaster Recovery Center in Iowa. They may also contact SBAs Customer Service Center at (800) 659-2955 or disastercustomerservice@sba.gov or visit SBAs website at www.sba.gov/services/disasterassistance Hearing impaired individuals may call (800) 877-8339.

To be considered for all forms of disaster assistance, disaster victims should first call the Federal Emergency Management Agency (FEMA) at (800) 621-3362.
FEMA coordinates the federal governments role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.

SBA is the federal governments primary source of money for the long-term rebuilding of disaster-damaged private property. SBA helps homeowners, renters, businesses of all sizes, and private non-profit organizations fund repairs or rebuilding efforts, and cover the cost of replacing lost or disaster-damaged personal property. These disaster loans cover uninsured and uncompensated losses and do not duplicate benefits of other agencies or organizations. For information about SBA programs, applicants may call 800-659-2955 (TTY 800-877-8339).

Disaster recovery assistance is available without regard to race, color, sex, religion, nationality, age, disability, English proficiency, economic status, or retaliation. If you or someone you known has been discriminated against, call FEMA toll-free at 800-621-FEMA (3362). For TTY Call 800-462-7585.