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Business Recovery Center Opening in National City

The Small Business Administration is set to open a Business Recovery Center in National City on February 26th. Located at the Southwestern College Higher Education Center on 880 National City Blvd, the center aims to provide support for local business owners.

The Business Recovery Center will have operating hours from Monday to Friday, running from 8:30 a.m. to 5 p.m. Appointments are not required, making it convenient for business owners to seek assistance.

With the opportunity to apply for loans up to $2 million, business owners can use the funds to repair or replace damaged property, equipment, inventory, and other business assets. The County of San Diego highlights that interest on SBA disaster loans will not start accumulating until 12 months from the initial disbursement.

Despite not being business owners themselves, some disaster survivors may need to apply for loans from the Small Business Administration, as explained by FEMA’s external affairs officer Brady Penn.

Under new guidelines effective March 24, the requirement for disaster survivors to apply to the SBA will be eliminated. This application process helps determine eligibility for low-interest loans for rebuilding purposes.

Homeowners can also benefit from disaster loans up to $500,000 for repairs or replacements of real estate. Additionally, homeowners and renters are eligible for up to $100,000 to address damage to personal property, including vehicles.

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