SBA opens Rock County recovery center for Wisconsin storm loan applications

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Rock County disaster loan center

Highlights

SBA opened a Business Recovery Center in Janesville, Rock County on July 15 to assist with disaster loan applications for storms between April 13–23.
Eligible businesses and nonprofits can apply for up to $2 million in physical disaster loans for damages, with additional working capital loans offered through the Economic Injury Disaster Loan program.
Homeowners may seek up to $500,000 for residence repairs and renters up to $100,000 for personal property at rates starting 2.875%, with deadlines of Aug. 31 for physical damage and March 30, 2027 for economic injury.

Disaster loan access in Rock County

As announced by SBA, citing the U.S. Small Business Administration, the Business Recovery Center opens at 10 a.m. on Wednesday, July 15, at the Daniel Hale Williams Resource Center, 1717 Center Ave. in Janesville. SBA customer service representatives are available Monday through Friday from 9 a.m. to 6 p.m. to answer questions and help applicants complete disaster loan paperwork, with walk-ins accepted and in-person appointments also available.

Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at SBA, says the centers help business owners meet directly with specialists who can guide them through the disaster loan application process and connect them with recovery resources. The assistance targets damage and financial losses tied to severe storms, tornadoes and flooding that occur from April 13 to April 23.

Loan terms and filing deadlines

Eligible businesses and private nonprofits can apply for business physical disaster loans of up to $2 million to repair or replace damaged real estate, equipment, inventory and other business assets. SBA’s Economic Injury Disaster Loan program is also available to eligible small businesses, small agricultural cooperatives and private nonprofits, including faith-based organizations, for working capital needs caused by the disaster, even if no physical damage occurs.

Homeowners and renters can apply for up to $100,000 to repair or replace personal property, while homeowners can seek up to $500,000 for their primary residence. Interest rates start at 4% for small businesses, 3.625% for nonprofits, and 2.875% for homeowners and renters, with payments deferred for 12 months from the first loan disbursement; the deadline for physical property damage applications is Aug. 31, and economic injury applications are due by March 30, 2027.

U.S. Bancorp’s second-quarter results highlighted how strong loan growth and rising fee income helped the bank post record quarterly revenue, with net interest income and profits both increasing year over year. Our earlier article also noted that the completed BTIG acquisition strengthened U.S. Bancorp’s capital markets business, contributing to a sharp jump in capital markets revenue and reinforcing broader momentum in fee-generating activities across the sector.

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