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Small business recovery center to open in Tulsa for storm victims

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Posted at 2:55 PM, Jun 05, 2019
and last updated 2019-06-05 15:55:49-04

TULSA, Okla. — The U.S. Small Business Administration and the Oklahoma Small Business Development Center have announced the opening of a business recovery center to help severe weather victims.

“Due to the severe property damage and economic losses the severe storms, straight-line winds, tornadoes and flooding inflicted on Oklahoma businesses, we want to provide every available service to help get them back on their feet,” said SBA’s Director Tanya N. Garfield. “The center will provide a one-stop location for businesses to access a variety of specialized help. SBA customer service representatives will be available to meet individually with each business owner.”

The center will open in Tulsa on June 6 at Langston University, 914 N. Greenwood Ave. Room 203. Hours are 9 a.m.-6 p.m. Monday -Thursday and Fridays 7:30 a.m.-3 p.m.

Business advisors will be available by appointment to provide assistance to clients needing to re-establish their operations, overcome the effects of the disaster and plan for their future.

“Services include assessing business working capital needs, evaluating the business’s strength, cash flow projections, and most importantly, a review of options with the business owner to help them evaluate their alternatives and make decisions that are appropriate for their situation,” state director Michelle Campbell said.

Businesses of any size and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. These loans cover losses that are not fully covered by insurance or other recoveries.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any property damage.

Business owners who are unable to visit the business recovery center may apply online using SBA’s secure website by clicking here.

The deadline to apply for property damage is July 31, 2019. The deadline to apply for economic injury is March 2, 2020.

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