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Flint businesses affected by water crisis get loan help

Loan Tips > Flint businesses affected by water crisis get loan help

 

The Small Business Administration has opened a Business Recovery Center in Flint that will hold office hours Wednesday through Feb. 25.

The Business Recovery Center is located at the Oak Business Center at 2712 Saginaw St., with hours of 8 a.m. to 5 p.m. Monday through Friday.

The Small Business Administration has issued a declaration for Genesee County and the city of Flint to provide loans for eligible businesses that have been adversely affected by the lead contamination of Flint’s drinking water.

Under the Economic Injury Disaster Loan declaration, eligible businesses and nonprofits may apply for up to $2 million in long-term, low-interest loans, depending on their circumstances.

SBA will accept loan applications through Nov. 7.

Members of Michigan's congressional delegation applauded the SBA assistance.

“Small businesses in Flint, especially restaurants, bars and others in the hospitality industry, have seen a drop-off in customers and revenue due to contaminated water even as they have installed filtration systems to ensure their products are safe," Sen. Gary Peters, D-Bloomfield Township, said in a statement.

Rep. Dan Kildee, D-Flint Township, also applauded the support for Flint small businesses.

“I’ve met directly with Flint business owners who have shared with me their daily struggles to keep the doors open through this ongoing crisis. These federal loans will help put Flint on a road to recovery,” Kildee said.



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