Hanover’s Perspective
SBA Loans Available to Businesses Impacted by January Winter Storms
Business Recovery Centers available to assist interested business owners
Businesses impacted by the January 2025 severe winter storms that resulted in power and water outages and boil water advisories can now apply for Economic Injury Disaster Loans (EIDL) to support their recovery. The SBA disaster declaration covers businesses located in Richmond, Goochland, Hanover, and Henrico, as well as Caroline, Charles City, Chesterfield, Cumberland, Fluvanna, King William, Louisa, New Kent, Powhatan, and Spotsylvania counties.
Economic Injury Disaster Loans (EIDL), which are made available by the U.S. Small Business Administration, are working capital loans to help small businesses and most private, non-profit organizations of all sizes meet those ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.
Visit the U.S. Small Business Administration’s Loan Portal for Disaster Declaration details including area coverage map, deadlines to apply, and relevant documents including a Fact Sheet providing interest rates and terms and loan amount limits.
Learn more and apply
Applications for disaster loans may be submitted online using the MySBA Loan Portal or at one of two designated SBA Business Recovery Centers. In addition, SBA will host a virtual information session for interested business owners on Thursday, April 24 from 12:00PM to 1:00PM EDT. Details for both the information session and the Business Recovery Centers can be found below.
For further assistance. please contact the SBA’s Customer Service Center by email or by phone at 1-800-659-2955. Those who are deaf, hard of hearing, or have a speech disability, can dial 7-1-1 to access telecommunications relay services.
Virtual Information Session
Business owners who are interested in learning more about the SBA loan program and how to apply can a virtual information session. Event details are as follows:
- Date: Thursday, April 24, 2025
- Time: 12:00 – 1:00PM EDT
- Location: Virtual
- Click on flyer image for a downloadable PDF.
- Register here to attend
Business Recovery Centers
From Tuesday, April 22 through Tuesday, May 6 the SBA will have two temporary Business Recovery Centers located at the Main Branch Library in the City of Richmond (101 E Franklin St.) and at the North Park Library in Henrico County (8508 Franconia Rd.). Businesses can visit either location to receive hands-on loan application support from an SBA employee. Please see the below chart for specific hours of operation.
SBA Business Recovery Center Locations and Hours (April 22 – May 6, 2025)
Richmond Public Library, 101 E. Franklin St., Richmond, VA 23219
Days/Hours of Operation:
NOTE: Opening day is Tuesday, April 22nd from 10:00 a.m. – 6:00 p.m., and permanently closes on Tuesday, May 6th at 5:00 p.m.
- Monday – Friday; 9:00 a.m. – 6:00 p.m.
- Saturday; 10:00 a.m. – 2:00 p.m.
North Park Library, 8508 Franconia Road, Richmond, VA 23227
Days/Hours of Operation:
NOTE: Opening day is Tuesday, April 22nd from 11:00 a.m. – 3:00 p.m., and permanently closes on Tuesday, May 6th at 3:30 p.m.
- Monday, Tuesday and Friday; 10:00 a.m. – 4:30 p.m.
- Wednesday; 11:30 a.m. – 4:30 p.m.
- Thursday, 1:00 p.m. – 4:30 p.m.
- Saturday, 10:00 a.m. – 1:30 p.m. (Note: Closed Saturday, May 3, 2025)
For Hanover County Businesses:
Learn how to prepare and plan for disasters at this free workshop on May 6, 2025 at Hanover Tavern. Registration is required.