Small Enterprise Administration processing catastrophe loans once more for impacted companies
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HILLSBOROUGH COUNTY — With the signing of the American Reduction Act 2025 into regulation, the U.S. Small Enterprise Administration can proceed processing catastrophe loans to supply monetary help to these affected by pure disasters nationwide.
In accordance with McKinsey & Company, Hurricane Milton affected 34 counties in Florida, which have been dwelling to almost 60% of the state’s small companies.
After two months of ready, some enterprise homeowners say the brand new funds will help them in reopening
It should assist individuals corresponding to Jennifer Winchester, the CEO of Playground Professional.
“Primarily, we do childcare facilities, church buildings, and HOAs,” she mentioned. “We do customized playgrounds, so we’re capable of customized suit your playground and they’re Amish-made.They’re actually made to final.“
Whereas her playground units are sturdy sufficient to resist a storm, Winchester says her enterprise took a extreme monetary hit following a number of hurricanes.
“It actually pushed a whole lot of initiatives again, and I misplaced the initiatives due to that,” she mentioned about misplaced gross sales.
Three years in the past, the only mom took a leap of religion to begin a enterprise to construct playgrounds when she couldn’t discover the proper one for her personal kids. After the storms, she discovered herself rebuilding and visited the Small Enterprise Administration workplace to use for a mortgage.
“It’s simply me and God is by enterprise associate,” she mentioned.
Winchester is without doubt one of the hundreds of candidates who’re counting on the low-interest SBA mortgage to assist her enterprise recuperate.
The SBA obtained extra funds to renew issuing catastrophe loans within the aftermath of hurricanes Milton, Helene, and Debby.
Ryck Morales is with the SBA and states that funding initially ran out on Oct. 15.
After a close to authorities shutdown was averted, the American Reduction Act 2025 was signed into regulation.
“That is historic,” Morales mentioned. “For the primary time, we’ve skilled all these disasters. That’s why we had this difficulty of ready for Congress to allocate new funds. That difficulty is resolved and we encourage individuals to use.”
Enterprise proprietor Susan Chellini can be benefiting from the help.
“Everybody ought to patronize small companies — that’s the coronary heart and soul of America,” mentioned Chellini. “You realize, the small enterprise goes. Then the city goes.”
She says that the important thing to financial restoration following back-to-back storms includes making small companies entire.
Enterprise homeowners can apply till Jan. 7 on the ‘Enterprise Restoration Evaluation Heart’ in Hillsborough County. The situation is 2101 E. Palm Ave. in Tampa.
The middle serves as a one-stop store the place companies can entry teaching on SBA catastrophe mortgage applications, enterprise mentoring, and funding methods.
It’s hours of operation are:
Thursday, Dec. 26: 8 a.m. to 4 p.m.
Friday, Dec. 27: 9 a.m. to 2 p.m.
Saturday, Dec. 28, and Sunday, Dec. 29: Closed
Monday, Dec. 30: 9 a.m. – 4 p.m.
Tuesday, Dec. 31: 9 a.m. – 1 p.m.
Wednesday, Jan. 1: Closed
Thursday, Jan. 2: 8 a.m. – 4 p.m.
Friday, Jan. 3: 8 a.m. – 2 p.m.
Saturday, Jan. 4, and Sunday, Jan. 5: Closed
The SBA will also be reached by visiting SBA.gov or by calling (800) 659-2955 between 8 a.m. – 8 p.m. ET Monday by way of Friday.
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