As Davenport is still reeling from a flood that tore through downtown last month, the U.S. Small Business Administration is opening a recovery center in the city on Friday to provide services to businesses affected by the recent disaster.
Scott County was made eligible for disaster aid through the Federal Emergency Management Agency last week. Now, as the city looks toward recovery, several specialized federal programs have opened up for individual assistance.
“Due to the severe property damage and economic losses the severe storms and flooding inflicted on Iowa businesses, we want to provide every available service to help get them back on their feet,” Tanya Garfield, a regional director with the small-business agency, said in a statement. “The center will provide a one-stop location for businesses to access a variety of specialized help.”
Resources available will include economic injury assessments and cash flow projections. Loans of up to $2 million are also available for businesses to put toward real estate improvement, inventory replacement and other business assets.
The center is to be staffed by customer service representatives from SBA and the Iowa Small Business Development Center, Garfield said. All services are available for free and no appointments are necessary.
The business recovery center will be at Eastern Iowa Community College, 101 W. 3rd St. in Davenport’s downtown.