The Small Business Administration will be opening a Business Recovery Center in National City on Feb. 26. The center will be set up at the Southwestern College Higher Education Center located at 880 National City Blvd. in National City.
The Business Recovery Center will be open Monday through Friday from 8:30 a.m. to 5 p.m. and appointments are not necessary.
Business owners can apply for a loan of up to $2 million to repair or replace damaged or destroyed property, equipment, inventory, and other business assets, according to the County of San Diego. Interest on SBA disaster loans will not accrue until 12 months from the date of the first disbursement.
Some disaster survivors, despite not owning or operating businesses, have to apply for a loan with the Small Business Administration, according to FEMA's external affairs officer Brady Penn.
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"The first step for folks, after checking with their insurance and checking on their insurance coverage, is to proceed to register with FEMA," Penn said, "and on a case-by-case basis, they may be directed to apply with the Small Business Administration or they may proceed with FEMA."
This step of applying to the SBA, which will be done away with under new guidelines beginning March 24, determines if recipients get low-interest loans for rebuilding if they qualify.
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"Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate," according to the SBA. "Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles."
