MONTGOMERY – The Governor on Thursday announced that the Small Business Administration (SBA) has approved a request for disaster assistance for Jackson, Dekalb, Madison, and Marshall Counties. The approval is based on damaged assessments from severe storms, wind, and flooding that occurred on November 29-30, 2016. Governor Bentley made the request to the SBA on Friday, December 9, 2016.
“Cleanup continues in many communities following the recent severe weather and we want to help Alabamians get the assistance they need,” Governor Bentley said. “There is help available for homeowners, businesses and nonprofit organizations that suffered damage from the severe storms, wind, and flooding. From the time the storms hit our state, to seeking today’s disaster declaration from the SBA, we have been working with affected communities and connecting them with the available resources.”
The declaration covers the primary County of Jackson. It also covers the adjacent counties of Dekalb, Madison and Marshall. 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.
“As Governor Bentley and I toured the damaged areas a couple of weeks ago, we saw people suffering. With this assistance people will be able to repair their homes and businesses,” Alabama EMA Director Art Faulkner said. “I urge everyone who had damage in the declared counties to contact SBA or stop by the Disaster Loan Outreach Center and inquire about assistance to help you recover.”
In all counties covered by the SBA disaster declaration, homeowners, renters, businesses and nonprofit organizations that qualify will have the following options from the SBA.
Home Disaster Loans: Renters and homeowners alike may borrow up to $40,000 to repair or replace clothing, furniture, cars, appliances, etc., damaged or destroyed in the storms. Homeowners may apply for up to $200,000 to repair or replace their primary residence to its pre-disaster condition.
Business Physical Disaster Loans: Loans of up to $2 million to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, nonprofit organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans: If a small business or private, nonprofit organization has suffered economic injury, regardless of physical damage, and is located in an SBA-declared disaster area, they may be eligible for financial assistance of up to $2 million from the U.S. Small Business Administration.
Alabamians interested in applying for SBA low-interest rate loans can receive more information by calling the SBA’s Customer Service Center at 800-659-2955 or 800-877-8339 for the deaf and hard-of-hearing. The SBA Disaster Customer Service Center may also be reached by email at email@example.com. Additional information, including SBA disaster loan fact sheets, can be found on the SBA’s website at https://disasterloan.sba.gov/ela.