WASHINGTON (WDTN) – New federal resources are available for homeowners, renters, small businesses, and non-profit organizations that experienced physical damage due to severe weather between May 21 and May 22, 2014.
U.S. Sen. Sherrod Brown (D-OH) today encouraged eligible residents to apply for assistance from the U.S. Small Business Administration (SBA) in advance of the August 4, 2014 deadline for federal physical damage disaster loans available to Champaign, Clark, Greene, Madison, Miami, and Montgomery Counties.
“Residents of Champaign, Clark, Greene, Madison, Miami, and Montgomery Counties can now apply for resources needed to recover from severe storms that swept through the area this year-which may have impacted their homes or businesses through no fault of their own,” Brown said. “These loans will help Ohioans rebuild and get back on their feet.”
Homeowners can borrow up to $200,000 to repair or replace real estate damaged by severe storms and homeowners and renters can borrow up to $40,000 to repair or replace damaged personal property.
Business and non-profit organizations are eligible for loans up to $2 million towards repairing or replacing damaged real estate, machinery and equipment, inventory, and other business assets.
The SBA also offers Economic Injury Disaster Loans (EIDLs) to small businesses, small agricultural cooperatives, small aquaculture business, and most private non-profit organizations to offset working capital needs caused by severe weather. These funds are available even to businesses that did not suffer any physical property damage.
The deadline to apply for these funds is March 5, 2015.
Eligible Ohioans may apply online via SBA’s secure website at https://disasterloan.sba.gov/ela. Additionally, loan application forms can also be obtained by emailing the SBA at email@example.com, calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or downloading the forms at http://www.sba.gov/disaster. Applicants should mail completed forms to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.