SBA Opens Business Recovery Center in Wheeling After April Floods

Vanessa Santiago, public affairs specialist with the U.S. Small Business Administration (SBA), center, meets with Wheeling City Manager Robert Herron and Wheeling Marketing and Community Relations Specialist Michele Rejonis. (Photo Provided)

WHEELING — The U.S. Small Business Administration has opened a Business Recovery Center in Wheeling to assist those with losses associated with the flooding, landslides and wind damage from the heavy storms of April 2-6.

In light of the federal disaster declaration issued because of the storm damage, people often look to the Federal Emergency Management Agency for assistance. However, the SBA is ready to assist businesses, nonprofit organizations, homeowners and renters with low-interest loans to help not only with recovery costs but also with costs of mitigation. Loans can even be used for additional working capital for impacted businesses.

“It’s better for people to take a loan to mitigate,” said Vanessa Santiago, SBA public affairs specialist. “You have to be ready. If you’re ready when something like this happens in the future, it won’t be a disaster.”

If a loan application is approved, the applicant may be eligible for additional funds to cover the cost of improvements that will mitigate or protect the property from future damage. Examples of these improvements include construction of retaining walls, purchase of sump pumps and other investments.

The Business Recovery Center opened in the former Armory facility now owned by the city of Wheeling in the Clator neighborhood. Business owners can visit the former U.S. Army Reserve Center at 25 Armory Drive in Wheeling for assistance. Hours are 9 a.m. to 6 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday.

Wheeling City Manager Robert Herron said FEMA is expected to also open an office at that same location later this month.

“We have the BRC or Business Recovery Center in the Armory, and there are also locations known as DRCs or Disaster Recovery Centers operated by FEMA which are roving,” Santiago explained on Friday, when she was in Moundsville meeting with local officials.

Originally from Puerto Rico, Santiago now works for the SBA based out of Atlanta, but goes wherever disaster strikes to help those in need. She recently was on the scene of the disaster in Baltimore, Maryland, after the Francis Scott Key Bridge collapsed from being struck by a large cargo ship. Santiago went through the Hurricane Maria disaster in Puerto Rico, and she noted that those who went through that situation are well versed in the needs of people seeking disaster relief that can make a difference.

Economic disaster loans through the SBA are available for businesses and nonprofits, and disaster loans are available for businesses, non-profits, homeowners and renters.

“It’s very important that people understand the requirements,” Santiago said. “People think that the requirements and the process are very difficult. They are not. It’s very simple.”

Those seeking assistance can get help at the recovery center or can apply online at sba.gov/disaster. All that is needed to apply for a disaster loan is a cell phone, contact information and Social Security numbers for all applicants; financial information such as income, monthly expenses and account balances; and insurance information, if available.

Businesses and nonprofits seeking assistance through disaster loans or working capital loans need to provide a complete copy of the most recent federal income tax return and provideSocial Security numbers and Employer Identification Numbers for all applicants or owners.

All available loans are low, fixed-interest rate loans with terms up to 30 years. From the date of the first disbursement, there will automatically be no payments and no interest due for the first 12 months.

The filing deadline to return applications for physical property damage is July 22, 2024. The deadline to return economic injury applications is Feb. 24, 2025.

“You don’t have to do a lot of things to apply,” Santiago noted.

Eligibility for assistance also goes beyond the borders of the Northern Panhandle counties affected in the disaster declaration, she explained. For example, businesses in Belmont County or in Western Pennsylvania that have been financially impacted because of issues related to the disaster in Ohio County in April can apply for a loan.

“Our Business Recovery Centers are one of the most powerful resources at SBA’s disposal to support business owners,” said Francisco Sanchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “Business owners can meet in-person with our specialists to apply for SBA disaster loans and get information on the full breadth of our programs designed to help them navigate their recovery.”

Disaster loans up to $500,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property.

Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed to help survivors with their long-term recovery needs. Visit SBA.gov/disaster to apply for SBA assistance online.

Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Those who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services.