By: Press Release Published by David Elliott
Date of publication: 24.08.
Residents and businesses in Kansas counties affected by floods on May 15 and 16 must seek disaster relief through the Small Business Administration by Friday, August 27.
The deadline for filing an application for economic harm is March 28, 2022.
Governor Laura Kelly requested SBA loan assistance on June 25 for residents and businesses in Ellis, Jewell, Lincoln, Mitchell, Osborne, Rooks, Russell and Smith counties.
Applications can be made through the SBA Virtual Business Recovery Center and Virtual Disaster Loan Support Center, Monday through Friday, 7:00 am to 7:00 pm at: FOCWAssistance@sba.gov or 800-659-2955. Applicants can also submit online applications, receive additional information on disaster relief, and upload applications at https: //
Customer service representatives will be available for business owners and individuals to answer questions about the SBA’s disaster loan program, explain the application process, and help each person complete an electronic loan application.
Businesses of all sizes and private nonprofits can borrow up to $ 2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also provide additional funds to businesses and homeowners to help cover the cost of improvements to protect, prevent, or minimize damage from similar disasters in the future.
To small businesses, small agricultural cooperatives, small aquaculture businesses, and most private nonprofit organizations of all sizes, SBA offers Economic Loss Disaster Loans to help meet the working capital needs caused by the disaster. Help for economic damage is available regardless of whether the business has suffered material damage. The deadline for EIDL applications is April 22, 2022.
Disaster loans of up to US $ 200,000 are available to homeowners to repair or replace damaged or destroyed properties. Homeowners and renters are eligible for up to $ 40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 2.88 percent for businesses, 2 percent for private nonprofits, and 1.625 percent for homeowners and tenants for up to 30 years. Loan amounts and conditions are set by the SBA and are based on the financial condition of each applicant.
(Information courtesy of the Kansas Adjutant General’s Office.)