In the aftermath of the recent bridge collapse, the Small Business Association (SBA) quickly established its first Business Recovery Center to provide assistance to those affected by the disaster. The SBA has since opened three recovery centers, one of which will be permanent. To date, they have disbursed 59 loans totaling $34 million to impacted businesses.
Despite these efforts, the SBA acknowledges that more can be done to support communities in need, particularly those that are underserved. According to Dilawar Syed, Deputy Administrator of the SBA, there is a focus on reaching all communities, including those with language barriers. In some cases, there is a need for Spanish language translation and support for individuals from various parts of South America who have unique needs. The SBA is committed to providing assistance to a diverse range of businesses and individuals affected by the disaster.
In addition to the loans already distributed, the SBA is launching a reconsideration campaign for businesses that were initially unsuccessful in obtaining financial support. Interested parties have until December 30th to apply for reconsideration and are encouraged to seek further information on the recovery centers by visiting the SBA website.