WASHINGTON
– Kentucky businesses and residents affected by severe storms, torrential rains, tornadoes, severe wind, hail, and subsequent flooding on July 3 – 9, 2016 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Maria Contreras-Sweet announced today.
Contreras-Sweet made the loans available in response to a letter from the Kentucky Gov. Matt Bevin’s authorized representative Michael E. Dossett, on Sept. 20, requesting a disaster declaration by the SBA. The declaration covers Marshall and Todd counties and the adjacent counties of Calloway, Christian, Graves, Livingston, Logan, Lyon, McCracken, Muhlenberg and Trigg in
Kentucky;
Montgomery and Robertson in
Tennessee.
Kentucky;
Montgomery and Robertson in
Tennessee.
“The SBA is strongly committed to providing the people of Kentucky with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said Contreras-Sweet. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
SBA’s customer service representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.
The Centers are located in the following communities and are open as indicated:
Marshall County
Marshall County Emergency Management Office
Benton, KY 42025
Opening: Tuesday, Sept. 27 at 9 a.m.
Hours: Weekdays from 8 a.m. to 4:30 p.m.; Saturday, Oct. 1 from 10 a.m. to 2 p.m.
Closes: Thursday, Oct. 6 at 3 p.m.
Todd County
Todd County Courthouse-Fiscal Court Meeting Room
Elkton, KY 42220
Opening: Tuesday, Sept. 27 at 9 a.m.
Hours: Weekdays from 8 a.m. to 4:30 p.m.; Saturday, Oct. 1 from 10 a.m. to 2 p.m.
Closes: Thursday, Oct. 6 at 3 p.m.
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Kentucky District Director, Ralph Ross.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofit organizations, and 1.625 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
.
https://disasterloan.sba.gov/ela
.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
www.sba.gov/disaster
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is
. The deadline to return economic injury applications is
.
Nov. 21, 2016
. The deadline to return economic injury applications is
June 22, 2017
.
WASHINGTON
– Kentucky businesses and residents affected by severe storms, torrential rains, tornadoes, severe wind, hail, and subsequent flooding on July 3 – 9, 2016 can apply for low-interest disaster loans from the U.S. Small Business Administration, SBA Administrator Maria Contreras-Sweet announced today.
WASHINGTON
Contreras-Sweet made the loans available in response to a letter from the Kentucky Gov. Matt Bevin’s authorized representative Michael E. Dossett, on Sept. 20, requesting a disaster declaration by the SBA. The declaration covers Marshall and Todd counties and the adjacent counties of Calloway, Christian, Graves, Livingston, Logan, Lyon, McCracken, Muhlenberg and Trigg in
Kentucky;
Montgomery and Robertson in
Tennessee.
Kentucky;
Montgomery and Robertson in
Tennessee.
Kentucky;
Tennessee.
“The SBA is strongly committed to providing the people of Kentucky with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said Contreras-Sweet. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
SBA’s customer service representatives will be available at the Disaster Loan Outreach Centers to answer questions about the disaster loan program and help individuals complete their applications.
The Centers are located in the following communities and are open as indicated:
Marshall County
Marshall County
Marshall County Emergency Management Office
Benton, KY 42025
Opening: Tuesday, Sept. 27 at 9 a.m.
Hours: Weekdays from 8 a.m. to 4:30 p.m.; Saturday, Oct. 1 from 10 a.m. to 2 p.m.
Closes: Thursday, Oct. 6 at 3 p.m.
Todd County
Todd County
Todd County Courthouse-Fiscal Court Meeting Room
Elkton, KY 42220
Opening: Tuesday, Sept. 27 at 9 a.m.
Hours: Weekdays from 8 a.m. to 4:30 p.m.; Saturday, Oct. 1 from 10 a.m. to 2 p.m.
Closes: Thursday, Oct. 6 at 3 p.m.
“Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets,” said SBA’s Kentucky District Director, Ralph Ross.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofit organizations, and 1.625 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at
.
https://disasterloan.sba.gov/ela
.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
disastercustomerservice@sba.gov
. Loan applications can also be downloaded at
www.sba.gov/disaster
. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is
. The deadline to return economic injury applications is
.
Nov. 21, 2016
. The deadline to return economic injury applications is
June 22, 2017
.
Nov. 21, 2016
June 22, 2017