SBA business recovery center opens for Ida relief

EXTON » The U.S. Small Business Administration has announced the opening of a third Business Recovery Center in Pennsylvania in the wake of Hurricane Ida, and the location is at the Chester County Economic Development Council (CCEDC).

The new SBA Business Recovery Center opened Wednesday at CCEDC’s headquarters at 737 Constitution Drive, Exton. The center will help businesses submit disaster loan applications for damages due to the remnants of Hurricane Ida on Aug. 31 to Sept. 5, 2021. Customer service representatives are available to answer questions about the disaster loan program and to work one-on-one with business owners in completing their applications.

“At CCEDC, our mission for more than 60 years has been to help sustain and grow local businesses, whether by providing services directly or bringing together the partners and connections needed to get the job done,” said Gary Smith, CCEDC President and CEO. “Our relationship with SBA has been strong over many decades. We are glad to open our doors to them and offer anything they need as we all work to bring comfort and support to companies in this time of adversity.”

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets. Details on loan eligibility and requirements can be found at https://www.disasterassistance.gov/

Hours of operation are Monday through Friday, 8:30 a.m. to 4:30 p.m.

AccuWeather estimates hurricane Ida’s economic impact reaching $95 billion. The forecasting company’s estimate makes Ida the seventh costliest hurricane to hit the U.S. since 2000. AccuWeather’s forecast incorporates many variables, including property damages, the impact of lost work, as well as a decrease in tourism.

Residents and businesses affected by the remnants of Hurricane Ida can now apply for low-interest loans from the U.S. Small Business Administration (SBA).

Due to the pandemic, the SBA has established protocols to help protect the health and safety of the public at SBA Business Recovery Centers. All visitors are encouraged to wear a face mask.