ROGERS, Ark. (KNWA/KFTA) — The U.S. Small Business Administration (SBA) has opened a Business Recovery Center in Rogers to help business owners affected by the tornadoes that struck northwest Arkansas over Memorial Day weekend.
“We offer loans of up to $2 million for physical damage, and we also have something called an Economic Injury Disaster Loan,” SBA spokesman Kevin Winn said.
Wynn said the Economic Injury Disaster Loans are aimed at businesses that haven't suffered physical losses but are starting to see a decline in revenue, and the recovery center isn't just aimed at business owners.
“Homeowners will be spending up to $500,000 to repair or replace their primary residence that was damaged in the disaster. We don't do second homes or anything like that,” Wynn said.
Wynn said it's important that people who need help get to the recovery center, which is on the fourth floor of the World Trade Center, as soon as possible. Wynn said the sooner people fill out their application, the sooner they can receive their loan.
“I can't stress enough the fact that we had no payments, no interest, everything deferred for a year,” Wynn said.
Sharon McCarver owns Rose Antique Mall on West Walnut Street, where businesses around her store were destroyed.
“We were very lucky there were no leaks, no broken glass,” McCarver said. “We were really surprised when we got here and saw it was still standing.”
McCarver said while his store only suffered minor damage, others were not so fortunate.
“Our area has a very close-knit collection of flea markets and antique malls, and to see three of them completely destroyed is just so sad,” McCarver said.
Suzie Q's Malt Shop on North Second Street has been in Rogers since the '50s, McCarver said.
“Part of the wall was blown away and some of the seating in front of it was just like that and the sign is gone,” McCarver said.
McCarver said the owner of Suzie Q Malt Shop is asking for the community's help in finding the signs. Winn said the SBA Business Recovery Center will remain open until it is no longer needed.
The Recovery Center is open Monday through Friday from 8 a.m. to 5 p.m. and Saturday from 8 a.m. to 1 p.m.
