SBA receives nearly 400 loan applications since opening recovery center in Rogers [Video]

ROGERS, Ark. (KNWA/KFTA) — At the beginning of this month, the U.S. Small Business Administration opened a business recovery center in Rogers to help both businesses and homeowners impacted by the Memorial Day weekend tornado and has since seen nearly 400 loan applications.

SBA offers physical damage and economic injury disaster loans. The economic injury disaster loans are for businesses that may not have suffered physical damage but are starting to see a loss in revenue.

“Then you see in the next three, four, six months, up to nine months, you have to see if your sales are going down because now your community is focusing on purchasing materials to repair their homes,” said Africa Rosas, public affairs specialist for SBA.

One month after deadly tornadoes in Northwest Arkansas

Rosas says the center has received hundreds of applications since its opening.

“So for businesses, we have received almost 150 applications in total with homeowners and renters, almost 400 …