SBA Disaster Loan Outreach Center to Close in Ames; Des Moines Location Remains Open

WASHINGTON - The U.S. Small Business Administration recently announced the closing of its Ames Disaster Loan Outreach Center at 7 p.m. on Friday, July 31.

SBA opened the center to provide personalized assistance to Iowa businesses and residents who were affected by severe storms, heavy rain, and flash flooding occurring July 2 - 4. Until the Ames center closes, SBA customer service representatives will continue to be available to meet with businesses and residents to answer their questions, explain SBA's disaster loan program, and close their approved disaster loans.

"Disaster Loan Outreach Centers connect survivors with the information, guidance, and support needed to begin recovery," said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at SBA. "Our staff provide one-on-one assistance throughout the application process and help ensure every survivor understands the disaster assistance available to them."

Businesses and residents can meet with SBA representatives on the days and times indicated below. Walk-ins are welcome, and in-person appointments can be scheduled in advance at appointment.sba.gov.

The hours of operation are as follows:

STORY COUNTY
Disaster Loan Outreach Center
Human Services Building
West Conference Room
126 S Kellogg Ave.
Ames, IA 50010

Thursday - Friday, 10 a.m. - 7 p.m.
Closes at 7 p.m. Friday, July 31

The following location is also open and continues to serve survivors:

POLK COUNTY
Disaster Loan Outreach Center
Fourmile Community Recreation Center
Side Office
3711 Easton Blvd.
Des Moines, IA 50317

Monday - Friday, 8 a.m. - 5 p.m.

Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes. Eligible mitigation improvements may include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

SBA's Economic Injury Disaster Loan program is available to small businesses, small agricultural cooperatives, and private nonprofit organizations - including faith-based organizations - with financial losses directly related to the disaster. SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the small business or private nonprofit did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills which could not be paid due to the disaster.

Interest rates can be as low as 4% for businesses, 3.625% for private nonprofit organizations and 2.875% for homeowners and renters with terms up to 30 years. Interest does not begin to accrue, and payments are not due until 12 months from the date of the first loan disbursement. SBA determines eligibility and sets loan amounts and terms based on each applicant's financial condition.

The deadline to apply for property damage is Sept. 21. The deadline to apply for economic injury applications is April 23, 2027.

To receive additional disaster assistance information, visit SBA's website at sba.gov/disaster. Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] for more information. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

###

About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit https://www.sba.gov