TAMPA, FL – U.S. Rep. Kathy Castor (FL-14) and Small Business Administration (SBA) Administrator Isabel Casillas Guzman marked the opening of a new SBA Business Recovery Center (BRC) at the Entrepreneur Collaborative Center in Ybor City to support recovery from Hurricanes Helene and Milton.

The SBA BRC is available to assist businesses, homeowners and renters with advice and applications for low-interest disaster loans.

“Tampa Bay small businesses fuel our economy, but back-to-back hurricanes have hurt local business owners,” said Rep. Castor. “The new Business Recovery Center will provide on-the-ground support to homeowners, renters, businesses and nonprofits and help them bounce back. I’m grateful to SBA, USF Small Business Development Center and other dedicated disaster teams for helping our community recover. A low-interest disaster loan is a better option than a credit card with a high interest rate.”

SBA can make disaster loans of up to $500,000 to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters may be eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property. Businesses may be eligible for up to $2 million for both physical damage and economic injury from business disruption.

SBA received approximately 37,000 applications for relief submitted from those impacted by Hurricane Helene. The SBA has already made over 700 Helene loan offers totaling about $48 million. For Hurricane Milton, SBA has received over 12,000 applications. 

Due to a lapse in funding, SBA has paused disbursement until Congress acts, but the SBA application portal remains open, and individuals and small businesses are strongly encouraged to apply for loans. Disaster survivors should start the application process immediately so SBA can review applications and position eligible applicants to receive offers and funds.

Rep. Castor stands ready to return to Washington to vote for additional disaster funding immediately.