SBA Disaster Loan Outreach Center - Pinecrest Bldg. (Opens 8/23/08)

SBA Disaster Loan Outreach Center Replaces DRC in Black Hawk County

Release Date: August 20, 2008
Release Number: 1763-166

DES MOINES, Iowa -- The U.S. Small Business Administration (SBA) will open a Disaster Loan Outreach Center in Waterloo in Black Hawk County Saturday, following Friday's closing of the Disaster Recovery Center, according to Joseph Folsom, district director of the SBA's Iowa office.

The Disaster Loan Outreach Center will open from 9 a.m. to 1 p.m. Saturday, in the Pine Crest Building, 1407 Independence Ave., Waterloo, IA 50703. Thereafter, it will be open from 8 a.m. to 5 p.m. Monday through Friday and 9 a.m. to 1 p.m. Saturday until further notice. It is closed on Sunday.

SBA offers low-interest federal disaster loans to homeowners, renters, businesses of all sizes and private non­profit organizations to repair or replace property damaged or destroyed by the disaster. So far, SBA has approved nearly $200 million in low-interest disaster loans to Iowa residents and businesses hurt by the flooding, tornadoes and severe storms.

The Black Hawk County Disaster Recovery Center in the same building in Waterloo closes at 5 p.m. on Friday, Aug. 22, 2008. It opened June 10, 2008, and has served more than 3,300 persons.

The Iowa Homeland Security and Emergency Management Division and the Federal Emergency Management Agency (FEMA) opened the temporary Disaster Recovery Center to provide face-to-face assistance to those affected by the severe storms, tornadoes and flooding from May 25 through Aug. 13.

SBA disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses of any size and private non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses and most private, non-profit organizations, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any property damage.

It is not necessary to visit a Disaster Recovery Center to receive FEMA assistance. Persons who suffered damage should register with FEMA by calling its toll-free telephone line at 1-800-621-FEMA (3362), TTY 1-800-462-7585, or online anytime at www.fema.gov.

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Release Date: June 9, 2008
Release Number: 1763-011

The Federal Emergency Management Agency (FEMA) and the Iowa Homeland Security and Emergency Management Division (HSEMD) operate the MDRC in Cedar Falls to serve residents in Black Hawk, Buchanan and Butler counties who were affected by severe storms, tornadoes and flooding beginning on May 25, and continuing.

Three DRCs are open 8 a.m. to 7 p.m. seven days a week in:

Black Hawk County - Pinecrest Bldg, Room 201, 1407 Independence Ave. Waterloo, IA 50703
Buchanan County - Aurora Comet Center, 401 Woodruff, Aurora, IA 50607
Butler County - Memorial Veterans Bldg, 101 Colfax St., Parkersburg, IA 50665

Representatives from FEMA, the U.S. Small Business Administration and other state, federal and volunteer organizations are available to answer questions and provide recovery information. Written materials about various assistance programs are also available to individuals and business owners.

If possible, visitors should register with FEMA prior to visiting the DRC, but phones are available if residents have not pre-registered. Register by calling FEMA's toll-free registration line at 1-800-621-FEMA (3362) or (TTY 1-800-462-7585) from 8 a.m. to 6 p.m. daily, or go online anytime at www.fema.gov.

When registering, applicants should provide current contact information, insurance information, a brief description of damage sustained as well as the specific location of damaged property.