The U.S. Small Business Administration has opened a Disaster Loan Outreach Center in Sharp County to help residents, small businesses, and nonprofits affected by severe storms and tornadoes that struck the area on March 14–15.
SBA representatives will be available at the center in Cave City to assist applicants with low-interest federal disaster loans for physical and economic damages. Walk-ins are welcome, though appointments can also be scheduled online at appointment.sba.gov.
The center, located at Cave City Hall, 201 S. Main St., will operate Mondays through Fridays from 9 a.m. to 6 p.m., and Saturdays from 9 a.m. to 1 p.m.
“When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities,” said Chris Stallings, associate administrator of the SBA’s Office of Disaster Recovery and Resilience. “Our specialists are here to help business owners and residents apply for loans and learn about recovery options.”
In addition to physical disaster loans, the SBA is offering Economic Injury Disaster Loans (EIDLs) to small businesses, agricultural cooperatives, nurseries, and nonprofits experiencing financial hardship due to the storms. EIDLs can be used to pay fixed debts, payroll, and other expenses, even if no physical damage occurred.
Applicants may also qualify for a loan increase of up to 20% of their physical damages to fund improvements that reduce risk of future damage, such as storm windows or insulation.
Interest rates are as low as 2.75% for homeowners and renters, 3.62% for nonprofits, and 4% for businesses. Repayment terms can extend up to 30 years, with no payments due and no interest accruing for the first 12 months after disbursement.
Applications for physical damage must be submitted by July 7, 2025, while the deadline for economic injury applications is Feb. 9, 2026.
To apply or learn more, visit sba.gov/disaster, call the SBA Customer Service Center at (800) 659-2955, or email disastercustomerservice@sba.gov. Individuals who are deaf or hard of hearing may access telecommunications relay services by dialing 7-1-1.
File image: Ainsley Platt, Arkansas Advocate
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