SBA representatives will assist business owners affected by historic summer flooding with the Urban League of St. Louis loan application.
ST. LOUIS – Business owners throughout the St.
The Small Business Administration, SBA, opened a recovery center Monday at the Urban League in St. Louis.
It’s the help business owners said they’ve been waiting for and desperately need.
Melissa Ingram must relive every lost item that the floodwaters took away from her business as she looks to apply for an SBA loan.
“It’s very difficult. I can’t do this every day, but I’m doing my best,” Ingram said.
On the morning of Tuesday, July 26, almost four feet of water filled Ingram’s business, Issa Lifestyle STL.
After the water ran out, all she was left with were the torn plugs and the decorations left on the wall.
“I’m still sorting through everything that’s been lost and realizing it’s a lot more than I thought it was,” Ingram said.
The ‘temporarily closed’ signs still stand outside her business because she’s not sure when she’ll be able to open her doors again.
Now, the few things that were salvaged from the flood have made their way into Ingram’s living room.
“Everything is in my house, now, because I can’t really afford to pay for storage, I have to start over,” she said.
However, Ingram is not alone.
Many business owners were ready to get help Monday afternoon as they waited for the Small Business Administration to open its recovery center at the Urban League in St. Louis.
SBA Public Information Officer Susheel Kumar said the recovery center is here to assist the needs of business owners.
“The need is acute. The need is great. We want to get on the ground and help as many residents, homeowners and renters and business owners get the help they need,” he said.
SBA representatives helped business owners apply for loans.
According to Kumar, the center is focused on helping with physical injuries and economic injuries.
“Basically a question and answer, just a gentle conversation about damages, and generally put together a package that we provide,” he said.
Businesses of any size and private nonprofits can borrow up to $2 million to make repairs and replace property.
Once the application is made and approved, Kumar said, landlords can see that money in about 30 days.
“Please come talk to us. Let us help you sooner rather than later,” he said.
All this help is completely free and no appointments are required.
If you’re a business owner who also had damage to your home or apartment, Kumar said, they can help you, too.
Businesses in the Missouri counties of St. Charles, St. Louis and St. Louis. Louis City can apply for loans for physical damages and economic damages.
Businesses in Missouri’s Franklin, Jefferson, Lincoln and Warren counties can only apply for economic injury credits.
Businesses in the Illinois counties of Calhoun, Jersey, Madison, Monroe and St. Clair can only apply for loans for economic damages.
The deadline to submit a physical injury application is Friday, October 7, 2022.
The deadline for submitting an application for economic damage is Monday, May 8, 2023.
SBA representatives will be at the Urban League on North Kingshighway Monday through Friday from 9 am to 6 pm for the foreseeable future.
For business owners who cannot make it to the recovery center, you can apply online here.