SBA Provides Disaster Loans for Business and Home Owners
August 05, 2013
Kingsport Office of Small Business Development & Entrepreneurship (KOSBE) News Release
Monday, August 5, 2013
FOR IMMEDIATE RELEASE
CONTACT:
Dana Glenn
Administrative & Marketing Coordinator, TSBDC at ETSU Kingsport Affiliate Office
Kingsport Chamber of Commerce
Ph: (423) 392-8811
dglenn@kingsportchamber.org
SBA Provides Disaster Loans for Business and Home Owners
KINGSPORT, Tenn. – Financial assistance, in the form of low-interest, long-term loans for losses that are not fully covered by insurance or other recoveries, will be provided by the Small Business Administration (SBA) to business owners and homeowners who suffered from the recent Tennessee severe storms and flooding. Official SBA representatives will be on site at the Kingsport Chamber of Commerce (next to the Food City shopping center in downtown Kingsport) from Tuesday, August 6, 2013 through Thursday, August, 15, 2013, from 9 a.m. to 6 p.m., Mondays through Saturdays.
According to Kingsport Office of Small Business Development and Entrepreneurship (KOSBE) Executive Director, Aundrea Wilcox, “Loan proceeds may be used to replace or repair real property, machinery, equipment, fixtures, inventories and leasehold improvements. This program can help you meet normal financial obligations that have become impossible or a strain due to the disaster. For a business, this could mean offsetting loss of sales. Another consideration is in regard to energy efficiency. During rebuilding may be the best time to implement overdue energy efficiency projects.”
A representative from SBA micro-lender, Pathway Lending, will also be on site at the Kingsport Chamber of Commerce on Tuesday, August 13, 2013 and Wednesday, August 14, 2013, from 8 a.m. to 5:00 p.m. Pathway Lending is a nonprofit economic development lender, not a bank. As the largest Community Development Financial Institution in Tennessee, Pathway makes loans and provides advisory services that grow businesses, create jobs, and strengthen communities. Pathway Lending specializes in business loans and efficiency loans.
Anyone that was affected by the storms of July 17-21, 2013 can request assistance through the SBA. This request can be online or in person. If you are a business owner in need of financial assistance and your damages are not covered by the current SBA Disaster Declaration, you may still be able to get access to working capital. Call the Kingsport Office of Small Business Development and Entrepreneurship at 423-392-8811 for more information.
KOSBE is the Kingsport Affiliate Office of the Tennessee Small Business Development Center at East Tennessee State University (ETSU). The cooperative agreement between KOSBE and East Tennessee State University is partially funded by the U.S. Small Business Administration (SBA). SBA’s funding is not an endorsement of any products, opinions or services. SBA funded programs are extended to the public on a non-discriminatory basis. Additional funding is provided by the Tennessee Board of Regents and the state of Tennessee.
Reasonable accommodations for persons with disabilities will be made if requested in advance.
For more information about the Tennessee Small Business Development Center (TSBDC) at ETSU Kingsport Affiliate Office and your Kingsport Office of Small Business Development & Entrepreneurship (KOSBE), visit tsbdc.org and kosbe.org or call (423) 392.8825. We’re social too; follow us on Facebook, Kosbe – The Small Business Connection and Twitter, @KOSBEConnection.
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