The U.S. Small Business Administration (SBA) announced that it will open Business Recovery Centers in Milwaukee County today to help businesses and nonprofit organizations of all sizes affected by the severe storms, tornadoes and flooding that occurred in July.

"Due to the amount of physical and economic losses caused by the severe storms and flooding in Wisconsin, we want affected businesses to have resources where they can meet individually with SBA representatives and find out how a low-interest disaster loan can help them recover," said Frank Skaggs, director of SBA Field Operations Center East.

The disaster declaration covers Grant and Milwaukee counties which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

SBA Business Disaster Recovery Centers (BRCs) will be open Monday through Saturday from 9 a.m. to 7 p.m., until further notice.

The Milwaukee centers are located at the Milwaukee Department of Public Works, 3850 N. 35th St., and at the Milwaukee Brotherhood of Firefighters Building, 7717 W. Good Hope Road.

SBA's customer service representatives will be on hand to answer questions about the disaster loan program, explain the process, issue and help individuals with their applications.

"The goal of the Wisconsin SBA District Office is to assist small businesses through better understanding of the many products and services available to the small business owner. That is why we thought it was important to establish Business Recovery Centers and team with our resource partners including Small Business Development Centers (SBDCs), Service Corps of Retired Executives (SCORE) - Counselors to America's Small Businesses and Women's Business Center and the local chambers of commerce," said Eric Ness, SBA district director. "Our resource partners can assist businesses in preparing financial statements and other information needed to submit with their disaster loan applications at no cost."

Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. Interest rates are as low as 3 percent for nonprofit organizations and 4 percent for businesses with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.

The filing deadline to return applications for physical property damage is Nov. 17. The deadline to return economic injury applications is June 20, 2011.