WASHINGTON
– Kentucky businesses and residents affected by severe storms and flooding on Feb. 6 through March 10 can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.
Administrator McMahon made the loans available in response to a letter from Kentucky Governor’s Authorized Representative Michael E. Dossett on April 1, requesting a disaster declaration by the SBA. The declaration covers Johnson and Magoffin counties and the adjacent counties of Breathitt, Floyd, Knott, Lawrence, Martin, Morgan and Wolfe in
Kentucky
.
Kentucky
.
“With the approval of Kentucky’s request for federal assistance, the Small Business Administration is providing a much-needed opportunity for recovery funding to the citizens of eastern Kentucky,” said Dossett. “Many individuals and businesses will benefit greatly from the federal disaster loans that SBA offers as they continue to recover following the devastating storms and flooding that heavily damaged parts of the community.”
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 open as indicated:
Johnson County
Johnson County Fiscal Court
Paintsville, KY 41240
Opening:
Friday, April 5, at 11 am to 6 pm
Hours:
Monday - Friday, 9 am to 6 PM
Saturday, April 6, from 10 am to 2 pm
Closed:
Sunday, April 7
Closes:
Friday, April 12 at 4 pm
Magoffin County
Magoffin County Health Dept.
Salyersville, KY 41465
Opening:
Friday, April 5, at 11 am to 6 pm
Hours:
Monday - Friday, 9 am to 6 pm
Saturday, April 6, from 10 am to 2 pm
Closed:
Sunday, April 7
Closes:
Friday, April 12 at 4 pm
“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 McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Kentucky
with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
“The approval of the Governor’s request for a Small Business Administration disaster declaration demonstrates the diverse partnerships that exist to provide assistance and an opportunity to eligible individuals in the declared counties to create a better tomorrow,” said Dossett. “Long-term recovery is an arduous process and SBA has always played a strong role in helping our citizens in their time of need. We appreciate having them as part of the Emergency Management team.”
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.
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 Kem Fleming, center 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 include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 4 percent for businesses, 2.75 percent for nonprofit organizations, and 2.063 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
.
DisasterLoan.sba.gov
.
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 centers 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
. Completed applications should be returned to the centers 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
.
June 3, 2019
. The deadline to return economic injury applications is
Jan. 3, 2020
.
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.
WASHINGTON
– Kentucky businesses and residents affected by severe storms and flooding on Feb. 6 through March 10 can apply for low-interest disaster loans from the U.S. Small Business Administration, Administrator Linda McMahon announced today.
WASHINGTON
Administrator McMahon made the loans available in response to a letter from Kentucky Governor’s Authorized Representative Michael E. Dossett on April 1, requesting a disaster declaration by the SBA. The declaration covers Johnson and Magoffin counties and the adjacent counties of Breathitt, Floyd, Knott, Lawrence, Martin, Morgan and Wolfe in
Kentucky
.
Kentucky
.
Kentucky
“With the approval of Kentucky’s request for federal assistance, the Small Business Administration is providing a much-needed opportunity for recovery funding to the citizens of eastern Kentucky,” said Dossett. “Many individuals and businesses will benefit greatly from the federal disaster loans that SBA offers as they continue to recover following the devastating storms and flooding that heavily damaged parts of the community.”
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 open as indicated:
Johnson County
Johnson County
Johnson County Fiscal Court
Paintsville, KY 41240
Opening:
Friday, April 5, at 11 am to 6 pm
Opening:
Hours:
Monday - Friday, 9 am to 6 PM
Hours:
Saturday, April 6, from 10 am to 2 pm
Closed:
Sunday, April 7
Closed:
Closes:
Friday, April 12 at 4 pm
Closes:
Magoffin County
Magoffin County
Magoffin County Health Dept.
Salyersville, KY 41465
Opening:
Friday, April 5, at 11 am to 6 pm
Opening:
Hours:
Monday - Friday, 9 am to 6 pm
Hours:
Saturday, April 6, from 10 am to 2 pm
Closed:
Sunday, April 7
Closed:
Closes:
Friday, April 12 at 4 pm
Closes:
“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 McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Kentucky
with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said McMahon. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
Kentucky
“The approval of the Governor’s request for a Small Business Administration disaster declaration demonstrates the diverse partnerships that exist to provide assistance and an opportunity to eligible individuals in the declared counties to create a better tomorrow,” said Dossett. “Long-term recovery is an arduous process and SBA has always played a strong role in helping our citizens in their time of need. We appreciate having them as part of the Emergency Management team.”
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.
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 Kem Fleming, center 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 include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 4 percent for businesses, 2.75 percent for nonprofit organizations, and 2.063 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
.
DisasterLoan.sba.gov
.
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 centers 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
. Completed applications should be returned to the centers 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
.
June 3, 2019
. The deadline to return economic injury applications is
Jan. 3, 2020
.
June 3, 2019
Jan. 3, 2020
About the U.S. Small Business Administration
About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit
www.sba.gov
.