According to a recent news release, The Small Business Administration has opened a field office in Gloucester County to help in the recovery from damage due to Hurricane Ida. The office, known as a Business Recovery Center, will be located within the Mantua Township Municipal Building. Operating hours at the center will be as follows: Monday-Friday, 8am-4:30pm; Saturday, 10am-4pm; closed Sunday. The address is 401 Main St., Mantua, NJ 08051. SBA representatives will be on site to answer any questions and help with applications.
The remnants of Hurricane Ida hit NJ on September 1st as a tropical storm. Despite the downgrade, Ida was still able to wreak havoc on most of the state. North and Central NJ suffered from rainfall totaling a record 10in in some areas. Meanwhile, southwest NJ had become more like the plains of Kansas and Oklahoma when an EF-3 tornado tore through Harrisonville and Cedar Grove, sending debris through the air while destroying homes and farms. Maplewood, Jamesburg, and Jersey City streets turned into rivers, some resembling rapids. Homes and businesses all over the state were gutted and heavily damaged.
The new field office opened Satruday, September 11th in an effort to provide much needed help. Now, $2 million can be borrowed by businesses and nonprofits of any size. Funds may be used to replace equipment and any other assets damaged by the storm. Interest rates for businesses are 2.855% and 2% for nonprofits. Terms are up to 30 years, although the SBA ultimately determines the amount of the loan and its length based on each situation. Anyone seeking further information may contact Michael Lampton, (404) 331-0333, [email protected]. You may also call SBA customer service at (800) 659-2955 to start the loan application process, or you may email [email protected]. You may download applications at http://sba.gov/disaster. The deadline for filing for physical property damage is November 4, 2021.