From the Wires
SBA Announces Holiday Closing of Business Recovery Centers in New Jersey
By: PR Newswire
Dec. 22, 2012 02:42 PM
ATLANTA, December 22, 2012 /PRNewswire/ --
The U.S. Small Business Administration announced today that its ten Business Recovery Centers in New Jersey will be closed in recognition of Christmas and New Year's Day. In addition, all centers will be closed on December 24 with the exception of the Centers in Essex, Hudson and Ocean counties which will be open from 9 a.m. to 1 p.m. The Centers in Bergen and Monmouth counties will be closed through January 1, 2013.
These Centers are staffed by SBA Customer Service Representatives that can answer questions, help with the application process and assist those applicants who want to apply on-line and complete the Electronic Loan Application.
Each Center's hours of operations are indicated below:
Cape May County
Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
The SBA may increase a loan up to 20 percent of the total amount of disaster damage to real estate and/or leasehold improvements, as verified by SBA, to make improvements that lessen the risk of property damage by future disasters of the same kind.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations, the 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 physical property damage.
Interest rates are as low as 3 percent for non-profit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at https://disasterloan.sba.gov/ela.
Additional details on the locations of recovery centers and the loan application process can be obtained by calling the SBA Customer Service Center at
The filing deadline to return applications for physical property damage is extended to January 30, 2013. The deadline to return economic injury applications is July 31, 2013.
For more information about the SBA's Disaster Loan Program, visit our website at www.sba.gov.
Contact: Jelani Miller
Release Number: 13 - 156, NJ 13367/13368
SOURCE U.S. Small Business Administration
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