The Small Business Administration will open a Business Recovery Center in National City on February 26. The center will be installed in the southwestern university Higher Education Center located at 880 National City Blvd. in National City.
The Business Recovery Center will be open Monday through Friday from 8:30 a.m. to 5 p.m. and no appointment is necessary.
Business owners can Apply for a loan of up to $2 million to repair or replace damaged or destroyed property, equipment, inventory and other business assets, according to the County of San Diego. Interest on SBA disaster loans will not accrue until 12 months after the date of the first disbursement.
Some disaster survivors, despite not owning or operating businesses, have to apply for a loan with the Small Business Administration, according to Brady Penn, FEMA external affairs officer.
“The first step for individuals, after checking with their insurance and verifying their insurance coverage, is to proceed to register with FEMA,” Penn said, “and, on a case-by-case basis, they may be directed to apply to the Administration Small Business Administration or they can proceed with FEMA.
This step of applying to the SBA, which will be eliminated under new guidelines starting March 24, determines whether recipients get low-interest loans for rebuilding if they qualify.
“Disaster loans of up to $500,000 are available to homeowners to repair or replace damaged or destroyed real property,” according to the SBA. “Homeowners and renters are eligible to receive up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.”