Small Business Administration offering disaster loans

WASHINGTON, D.C. (WEHT) The Small Business Administration (SBA) is offering low-interest disaster loans to families and businesses in Kentucky that were devastated by the severe weather.

“SBA’s mission-driven team stands ready to help Kentucky small businesses and residents
impacted by this disaster in every way possible under President Biden’s disaster de3claration
for certain affected areas,“ said SBA Administrator Isabella Casillas Guzman. “We’re committed
to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to
help businesses and communities recover and rebuild.”

This announcement covers eight counties in western Kentucky, including Muhlenberg and Hopkins counties. Businesses and private nonprofits may borrow up to $2 million for repairs or replacements. Economic Injury Disaster Loan assistance is also available regardless of whether or not a business suffered physical damage. Filing for these loans should be done by September 12, 2022.

Homeowners may borrow up to $200,000 for damaged or destroyed real estate. Personal property loans go as high as $40,000. The filing deadline for these is February 10, 2022.

Applicants may apply online using the Electronic Loan Application via SBA’s secure website. Loan applications can also be found here. Businesses and individuals may also call the SBA’s Customer Service Center at 1-800-659-2955 for information on loans (or for the deaf or hard-of-hearing, call 1-800-877-8339).