Thursday, Gov. Matt Bevin received confirmation that the U.S. Small Business Administration has approved disaster assistance loans for the severe storms and subsequent flooding that affected Kentucky between February 6 and March 10. SBA will make available low-interest disaster loans to homeowners, renters and businesses who sustained damage during the approved time period.
“We are grateful to the U.S. Small Business Administration for making low-interest loans available to Kentuckians who are dealing with property damage caused by the severe weather earlier this year,” said Bevin. “Kentucky’s business owners, homeowners and renters are the cornerstones of our communities, and this program provides important aid during the recovery process.”
“We are appreciative of the SBA declaration in that these loans will help citizens and small businesses with replacing personal property, real property and equipment lost or damaged during the severe storms,” said Kentucky Emergency Management Director Michael Dossett. “SBA has several types of low-interest loans that can assist with a variety of situations.”
“Since we didn’t qualify for individual assistance from FEMA, we have been working on trying to get a declaration from the Small Business Administration, and that consists of them coming to our county and city and making available low-interest loans to the public or non-profit organizations in the county. That should at least help give people some relief, or at least make it available to them, to help with damages they had no control over,” said Johnson County Emergency Management Director Gary McClure.
Primary counties included in the SBA declaration are Johnson and Magoffin, along with the contiguous counties of Breathitt, Floyd, Knott, Lawrence, Martin, Morgan, and Wolfe.
Further information about what types of loans are available, how to apply and deadlines for loan applications is available at, sba.gov/funding-programs/disaster-assistance or, for more information, contact Johnson County Emergency Management at, (606) 789-2260.