News Column

Disaster Help Available to Residents, Businesses

June 26, 2014



LANSING, Mich., June 26 -- The Michigan State House Republicans issued the following news release on the behalf of Michigan State Rep. Joel Johnson:

Residents and businesses that experienced April flooding and weather damage in Osceola and Newaygo counties, along with adjacent counties including Clare, can apply for low-interest federal disaster loans.

State Rep. Joel Johnson said applications for U.S. Small Business Administration loans of 2.25 percent to 4 percent based on damage assessment and the applicant's financial condition for physical damage can be submitted until Aug. 18. Economic injury applications have a March 19, 2015 deadline.

"The governor's disaster declaration request to the SBA earlier this month was granted, so loans of up to $200,000 to repair real estate damages and up to $40,000 for personal property are available to eligible homeowners and renters," said Johnson, R-Clare. "Businesses and non-profits can borrow as much as $2 million. The important focus is helping businesses and communities return to normal as quickly as possible."

The program is in response to severe flooding, hail and high winds in the two counties between April 12-30. Other counties included in the declaration are Isabella, Kent, Lake, Mason, Mecosta, Missaukee, Montcalm, Muskegon and Wexford.

Loan applications can be downloaded at www.sba.gov/disaster or digitally submitted online using SBA's secure website at https://disasterloan.sba.gov/ela.

More information and loan applications also are available by calling the SBA's Customer Service Center at 1-800-659-2955 or by emailing disastercustomerservice@sba.gov.

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Source: Targeted News Service


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