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Seabrook property owners can benefit from SBA programs
Seabrook business owners and homeowners awaiting final decisions on amounts and timing of insurance payouts can take advantage of programs available through the SBA Business Assistance Center.
The center continues to operate at the Economic Alliance Houston Port Region office at 908 West Main Street in La Porte, just east of the intersection of Highway 146 and Main Street.
The Economic Alliance is partnering with San Jacinto College’s Small Business Development Center to host SBA.
The deadline to apply for an SBA loan for personal property or business repairs is Nov. 12; a business owner seeking a working capital loan due to economic injury caused by Ike has until June 15, 2009 to apply for assistance. But in either case, the first step is to apply as soon as possible.
Seabrook Mayor Gary Renola said Wednesday while visiting the SBA Center at the Economic Alliance office in La Porte, “We have been trying to focus our efforts on both the residents and the businesses, and we are excited the Economic Alliance has been able to get the SBA folks actively involved in helping Seabrook. We know that having SBA close-by and available will really help our businesses in particular.”
Ernie Davis, Chairman of the Board of the Seabrook Economic Development Corporation, added, “Beginning immediately after the hurricane, we have been going door-to-door to businesses throughout Seabrook, working to help them assess their status and offering our services. to them. The SBA Center at the Economic Alliance headquarters will be another layer of a multi-layered effort. We held a business recovery workshop Wednesday night, where we made a pro-active attempt to put our business owners in direct contact with IRS, SBA, FEMA, etc.”
Teresa Vazquez-Evans, director of the Seabrook Economic Development Corporation (SEDC), added, “The SEDC is officed in Seabrook City Hall and I am available there during normal business hours to speak to anyone who has a question or might need direction. Most of our time is normally spent attracting new businesses, but part of business plan calls for us to retain businesses as well, and our focus has now shifted to helping Seabrook businesses rebuild and reopen.” Teresa can be contacted at City Hall, 1700 First Street, or by phone at 281-291-5730.
SBA customer service representatives have for some three weeks now been assisting business owners and homeowners with SBA loan applications for losses that resulted from Hurricane Ike. Economic Alliance CEO Jan Lawler said Wednesday that those who have taken advantage of the programs thus far “are not people expecting handouts; they are very self-sufficient, and appreciative of the opportunity to secure a low interest loan that will help them get their business running again or proceed with needed repairs without having to wait for an insurance check.”
The type of funding that is being made available through the SBA comes directly from the U.S. Treasury, and may be available in as little as 10 days. Thus, a business owner or a homeowner who may have to wait weeks to get the insurance check needed to purchase supplies or pay a contractor for work that must be done can use an SBA loan to get started sooner. Once the insurance check comes in, that money must then be used to either pay down, or pay off, the low-interest SBA loan.
The SBA recommends that anyone in need should go to the Center and fill out an application. Those applications are considered in the order in which they are received, with no preferences. And anyone turned down has up to six months to re-apply.
Lawler gave an example of the need to sign up for the SBA programs: one business owner came in last week and shared that they are still waiting for an insurance check so repair work can begin on damage caused by Hurricane Rita in 2005. Had that business owner gone through the SBA process, that business could well have been up and running soon after the storm.
Business owners can download in advance of their visit to the Center a form for business-related SBA disaster loans from the Economic Alliance website at www.allianceportregion.com (go to News menu option).
An appointment is not necessary but recommended, and counselors will meet with business owners from 8 a.m. to 5 p.m. Monday through Friday. The Center will remain open until further notice.
Businesses of any size and private or non-profit organizations may apply to SBA for low-interest disaster loans of up to $2 million to repair or replace damage to real estate, leasehold improvements, machinery and equipment, inventory and other business assets. These loans cover losses that are not fully covered by insurance or other recoveries. Homeowners may borrow up to $200,000 to repair or replace their primary residence, and homeowners and renters may borrow up to $40,000 to replace personal property.
Also, SBA offers low interest working capital loans (Economic Injury Disaster Loans) to small businesses and most private, non-profit organizations of all sizes having difficulty meeting obligations as a result of the storm. Homeowners and renters must first register with FEMA before seeking SBA help. This is not a requirement for business owners.
For more information, call the Economic Alliance Houston Port Region office at 281-867-1112, ext. 13.
The center continues to operate at the Economic Alliance Houston Port Region office at 908 West Main Street in La Porte, just east of the intersection of Highway 146 and Main Street.
The Economic Alliance is partnering with San Jacinto College’s Small Business Development Center to host SBA.
The deadline to apply for an SBA loan for personal property or business repairs is Nov. 12; a business owner seeking a working capital loan due to economic injury caused by Ike has until June 15, 2009 to apply for assistance. But in either case, the first step is to apply as soon as possible.
Seabrook Mayor Gary Renola said Wednesday while visiting the SBA Center at the Economic Alliance office in La Porte, “We have been trying to focus our efforts on both the residents and the businesses, and we are excited the Economic Alliance has been able to get the SBA folks actively involved in helping Seabrook. We know that having SBA close-by and available will really help our businesses in particular.”
Ernie Davis, Chairman of the Board of the Seabrook Economic Development Corporation, added, “Beginning immediately after the hurricane, we have been going door-to-door to businesses throughout Seabrook, working to help them assess their status and offering our services. to them. The SBA Center at the Economic Alliance headquarters will be another layer of a multi-layered effort. We held a business recovery workshop Wednesday night, where we made a pro-active attempt to put our business owners in direct contact with IRS, SBA, FEMA, etc.”
Teresa Vazquez-Evans, director of the Seabrook Economic Development Corporation (SEDC), added, “The SEDC is officed in Seabrook City Hall and I am available there during normal business hours to speak to anyone who has a question or might need direction. Most of our time is normally spent attracting new businesses, but part of business plan calls for us to retain businesses as well, and our focus has now shifted to helping Seabrook businesses rebuild and reopen.” Teresa can be contacted at City Hall, 1700 First Street, or by phone at 281-291-5730.
SBA customer service representatives have for some three weeks now been assisting business owners and homeowners with SBA loan applications for losses that resulted from Hurricane Ike. Economic Alliance CEO Jan Lawler said Wednesday that those who have taken advantage of the programs thus far “are not people expecting handouts; they are very self-sufficient, and appreciative of the opportunity to secure a low interest loan that will help them get their business running again or proceed with needed repairs without having to wait for an insurance check.”
The type of funding that is being made available through the SBA comes directly from the U.S. Treasury, and may be available in as little as 10 days. Thus, a business owner or a homeowner who may have to wait weeks to get the insurance check needed to purchase supplies or pay a contractor for work that must be done can use an SBA loan to get started sooner. Once the insurance check comes in, that money must then be used to either pay down, or pay off, the low-interest SBA loan.
The SBA recommends that anyone in need should go to the Center and fill out an application. Those applications are considered in the order in which they are received, with no preferences. And anyone turned down has up to six months to re-apply.
Lawler gave an example of the need to sign up for the SBA programs: one business owner came in last week and shared that they are still waiting for an insurance check so repair work can begin on damage caused by Hurricane Rita in 2005. Had that business owner gone through the SBA process, that business could well have been up and running soon after the storm.
Business owners can download in advance of their visit to the Center a form for business-related SBA disaster loans from the Economic Alliance website at www.allianceportregion.com (go to News menu option).
An appointment is not necessary but recommended, and counselors will meet with business owners from 8 a.m. to 5 p.m. Monday through Friday. The Center will remain open until further notice.
Businesses of any size and private or non-profit organizations may apply to SBA for low-interest disaster loans of up to $2 million to repair or replace damage to real estate, leasehold improvements, machinery and equipment, inventory and other business assets. These loans cover losses that are not fully covered by insurance or other recoveries. Homeowners may borrow up to $200,000 to repair or replace their primary residence, and homeowners and renters may borrow up to $40,000 to replace personal property.
Also, SBA offers low interest working capital loans (Economic Injury Disaster Loans) to small businesses and most private, non-profit organizations of all sizes having difficulty meeting obligations as a result of the storm. Homeowners and renters must first register with FEMA before seeking SBA help. This is not a requirement for business owners.
For more information, call the Economic Alliance Houston Port Region office at 281-867-1112, ext. 13.
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