SBA Recovery Center Opens in Volusia County to Aid Businesses with Economic Losses from Hurricane Milton

Posted On: January 13, 2025

The U.S. Small Business Administration has opened a Business Recovery Center in Volusia County to support small businesses and private nonprofit organizations that suffered economic losses due to Hurricane Milton. Located at the Deltona Regional Library, 2150 Eustace Ave., the center operates from 9 a.m. to 6 p.m. Monday through Thursday, 9 a.m. to 5 p.m. on Friday.

At the center, SBA customer service representatives help business owners complete their Economic Injury Disaster Loan applications, accept documents for existing applications, and provide updates on the status of an application. While walk-ins are welcome, appointments can also be scheduled in advance at appointment.sba.gov.

Economic Injury Disaster Loans provide working capital to businesses affected by disasters, regardless of physical damage. Businesses can use the funds to cover fixed debts, payroll, accounts payable, and other operating expenses that could have been paid if the disaster had not occurred.

Loans can reach up to $2 million, with interest rates at 4% for small businesses and 3.25% for private nonprofits and terms extending up to 30 years. Interest does not accrue, and payments are deferred for 12 months following the initial loan disbursement. The SBA determines loan amounts and terms based on each applicant's financial condition.