Federal loans available in Broken Arrow for storm damage

Photo Credit: City of Broken Arrow

Written By: John Dobberstein

(BROKEN ARROW, Okla.) Broken Arrow residents and businesses impacted by the severe storms on June 18 are eligible to receive low-interest federal disaster loans through the U.S. Small Business Administration following a request from Gov. Kevin Stitt on July 1.

Read this story on The Broken Arrow Sentinel here. 

The disaster declaration makes SBA assistance available in Tulsa and Wagoner Counties.

“SBA’s mission-driven team stands ready to help Oklahoma’s small businesses and residents impacted by the severe storms, straight-line winds, tornadoes, and flooding,” stated Administrator Isabella Casillas Guzman. “We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.”

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property, including personal vehicles.

Beginning Friday, July 7, SBA customer service representatives will be available at the Disaster Loan Outreach Center at Owen Park Community Center, 506 N. Maybelle Ave., in Tulsa. They will answer questions about SBA’s Disaster Loan Program and assist with the application.

The office will be open starting July 7, Monday through Friday, from 9 a.m. to 6 p.m., until July 27. No appointment is necessary.

The deadline to apply for property damage is Sept. 1, 2023, and the deadline to apply for economic injury is April 3, 2024.

Applicants may apply online, receive additional disaster assistance information, and download applications at https://disasterloanassistance.sba.gov/.

Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov 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.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Read the announcement from the U.S. Small Business Administration here SBA Loans Press Release.