Disaster Declaration Issued for Lee and Wise Counties

The U.S. Small Business Administration, the SBA has issued a disaster declaration for Bell, Harlan, and Whitley Counties, along with the seven contiguous counties; Clay, Know, Laurel, Leslie, Letcher, McCreary and Perry, as well as the contiguous Tennessee counties of Campbell and Claiborne; and the contiguous counties of Lee and Wise Virginia. This declaration is due to damage caused by severe storms, flooding, flash flooding, landslides and mudslides from February 3-29,2020.
This SBA declaration makes homeowners, renters, businesses and nonprofit organizations that suffered damage in those storms eligible to apply for low-interest disaster loans to help with their uninsured or under-insured losses. Businesses of all sizes who suffered physical damages such as real estate, inventory, equipment, etc for businesses of all sizes. Economic Injury for small businesses and nonprofits such as working capital with no physical damages necessary.
However, the filing deadline is July 31, 2020. Anyone who incurred damage and is needing assistance should file an application online at www.DisasterLoanAssistance.sba.gov before the deadline. These loans, intended to repair, rebuild and recover carry interest rates that can be as low as 1.563% for homeowners and renters, and 2.75% for nonprofit organizations, and 3.75% for businesses. Repayment terms can extend as long as thirty years if necessary to make recovery affordable.
For one on one assistance with applying you may phone Monday-Friday 1-470-363-5611 or 1-571-422-6078 or 1-571-422-7312.
You may also email any questions to FOCE-Help@sba.gov

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