FAIRMONT, W.Va. — Two Small Business Administration centers will open in northern West Virginia this Friday to assist local businesses with flood recovery following storms, flooding, landslides, and mudslides on July 28 and July 29.
The SBA will open in Fairmont at 1000 Technology Drive at the Alan B. Mollohan Innovation Center 9 a.m. Friday morning. A second will open at 609 Jefferson Avenue at the Marshall County Chamber of Commerce in Moundsville Friday morning at 8 a.m.
Hours of operations in Fairmont will be Monday through Friday, 9 a.m. to 6 p.m. In Moundsville, the center will be open Monday through Friday 8 a.m. to 4 p.m.
Businesses and nonprofits can apply up to $2 million to repair or replace disaster damaged real estate, machinery, equipment, inventory, and other businesses assets.
Loans for working capital, known as Economic Injury Disaster Loans, are available even if businesses did not suffer any physical damage. Interest rates are as low as 3.305 percent for businesses, 2.5 percent for private nonprofit organizations, and offer terms up to 30 years.
The filing deadline for physical property damage is October 17, 2017. The deadline to file for economic inquiry applications is May 18, 2018.
Questions can be directed to 800-639-2955 or disastercustomerservice@sba.gov.