Commercial Appeal - Small Business Administration to help Memphis businesses apply for flood loans

A U.S. Small Business Administration outreach center will be open Wednesday through Oct. 14 to process disaster loan applications from residents affected by September flooding, U.S. Rep. Steve Cohen, D-Memphis, announced.

The center will operate in Building C, Room 133 of the Shelby County Emergency Operations Center, 1075 Mullins Station.

Greater Memphis received as much as 9 inches of rain on the morning of Sept. 11, with floodwaters hitting areas of Bartlett, Frayser, Millington and elsewhere.

Affected individuals may apply for real estate recovery loans up to $200,000 and personal property loans up to $40,000. Businesses and nonprofits may be eligible to apply for loans up to $2 million to repair or replace damaged assets. Interest rates vary.

Hours will be 1-7 p.m. Wednesday; 10 a.m. to 7 p.m. Thursday and Friday; 10 a.m. to 2 p.m. Saturday; closed Sunday and Monday; and 10 a.m. to 4 p.m. Oct. 14.