Governor Tate Reeves recently announced disaster assistance for Mississippi businesses and residents hit by the devastating Easter Sunday storms.
Working with the U.S. Small Business Administration (SBA) to help Mississippians recover from the historic storms that hit the state on April 12, 2020, Covington, Jefferson Davis, and Jones Counties were declared federal disaster areas to receive disaster assistance for recovery.
“Mississippians are all too familiar with weathering storms that come our way, but the storms on Easter Sunday were historic in their devastation. I’m grateful for our partnership with SBA so we can help our people get back on their feet. With this assistance, we will rebuild. And we will emerge stronger,” said Governor Tate Reeves.
Businesses and residents of Covington, Jefferson Davis, and Jones counties can now apply for low-interest disaster loans from the SBA, which includes both Physical and Economic Injury Disaster Loans.
Additionally, small businesses and most private non-profit organizations in adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans. The adjacent counties include: Forrest, Jasper, Lamar, Lawrence, Marion, Perry, Simpson, Smith, and Wayne.
Businesses and private non-profit organizations may borrow up to $2 million to repair or replace disaster damaged real estate, equipment or other assets. Homeowners in the three disaster declared counties may borrow up to $200,000 to repair or replace damaged or destroyed real estate and they are also eligible to borrow up to $40,000 to replace or repair personal property.
Applicants can apply online by visiting the SBA’s website: disasterloanassistance.sba.gov
The SBA has also opened a Virtual Disaster Loan Outreach Center/Business Recovery Center to help storm victims apply online during the COVID-19 pandemic. The Virtual Outreach Center is open Monday through Friday from 8:00 AM until 5:00 PM. Storm victims can call 404-331-0333 and use extensions: 2122; 2123; and 2106 during these hours to speak with a disaster assistance professional. Additional information can also be obtained by emailing FOCE-Help@sba.gov.
The filing deadline for physical property damage applications is June 15, 2020, and the deadline for economic injury applications is January 19, 2021.