Tom Latek, Kentucky today
FRANKFORT, Kentucky (KT) – The US Small Business Administration (SBA) has extended the disaster loan application deadline for businesses of all sizes, private nonprofits, homeowners and renters until July 8, 2021.
The initial deadline is June 22.
Anyone in 31 federal districts that have declared natural disasters and suffered physical damage from severe storms, floods, landslides and mudslides from February 27 to March 14 can apply for a low-interest SBA loan.
Disaster Statement applies to Anderson, Boyd, Bretitt, Clark, Clay, Estilla, Fayette, Floyd, Franklin, Greenup, Jackson, Jessamine, Johnson, Knott, Laurel, Lawrence, Lee, Leslie, Letcher, Lincoln, Madison, Martin Magoffin , Morgan, Owsley, Perry, Powell, Pulaski, Rockcastle, Warren and Woodford counties, whose residents are eligible for SBA disaster loans for both physical and economic damage.
Small businesses and most private nonprofits in the surrounding counties are eligible to apply only for SBA disaster economic damage loans. These include Allen, Barren, Bell, Bourbon, Boyle, Butler, Carter, Casey, Edmonson, Elliott, Garrard, Harlan, Henry, Knox, Lewis, Logan, McCreary, Menifi, Mercer, Montgomery, Nelson, Owen, Pike, Rowan, Russell, Scott, Shelby, Simpson, Spencer, Washington, Wayne, Wheatley and Wolfe.
Businesses and private non-profit organizations of all sizes can borrow up to $ 2 million to repair or replace property, machinery and equipment, inventory and other business assets damaged or destroyed by natural disasters or destroyed.
For small businesses, small agricultural cooperatives, small aquaculture businesses, and most private non-profit organizations, SBA offers economic loss loans to help meet the working capital needs caused by the disaster. Loan assistance in the event of a natural disaster caused by economic damage is available regardless of whether the business has suffered material damage.
Disaster Loans of up to $ 200,000 are available to homeowners to repair or replace property damaged or destroyed by the disaster. Homeowners and renters are eligible for up to $ 40,000 to repair or replace personal property damaged or destroyed by the disaster, including cars.
Applicants should register at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is not available, you can call the toll-free FEMA Helpline at 800-621-3362. Those using the 711-Relay or Video Relay service should call 800-621-3362.
Again, the new deadline for filing claims for pecuniary damage is July 8, 2021. The deadline for returning claims for material damage is January 24, 2022.