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Financial Help For Business Owners Hit By The Tornado

A business recovery center opened up today in Faulkner County.
FAULKNER COUNTY, AR -- Dozens of Faulkner County businesses hit by last month's tornadoes, now have more help to get back up and running.

A recovery center just opened in Conway today at the Faulkner County Justice Building.

Folks there can help provide financial services to business owners impacted by April's tornado.

According to the Faulkner County Judge, more than 50% of businesses were wiped out in Vilonia.

The storm also destroyed or damaged several churches and stores in Mayflower.

The U.S. Small Business Administration can give owners government disaster loans at 4%, that's a lower interest rate than most others.

Along with helping owners rebuild, loans can be used for economic reasons too.

William Koontz, Public Information Officer with U.S. Small Business Administration, said, "You may be a business that wasn't touched by the tornado, but your neighborhood is gone and your customers are displaced, so you are suffering too."

Koontz says along with bringing jobs and services back, it's important companies re-start quickly for the sake of the community's tax base.

Up to $2 million for each business owner is available.

The SBA also provides home loans at 2%

The deadline to apply for physical damage is June 30, 2014 and for economic injury it's January 29, 2015.

For more information, you can visit the Faulkner County Justice Building.

The SBA is set up on the third floor.

They will be there Monday-Friday from 9:00 a.m. - 5:00 p.m.

You can also call the SBA Customer Service Center at 1-800-659-2955.

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