PARKERSBURG - Representatives from the Small Business Administration were in town Thursday to get the word out to local homeowners, renters, businesses and nonprofits that sustained damage during the June 29-July 8 storms of possible financial help from the SBA.
D. Jelani Miller, public affairs specialist with the SBA's Office of Disaster Assistance, met with Wood County commissioners to outline deadlines and procedures for eligible individuals and businesses to get help.
"The president initially declared four counties disaster areas in September, then an additional 16 were added, including Wood County. We are trying to get information out to the public about our services. Officials with FEMA (Federal Emergency Management Agency) will be here in the next few days," he said. "We provide the long-term recovery assistance. A lot of people are under the impression we only help small businesses, because of the name of the agency, but we work with homeowners and renters as well," Miller said. Neighboring Washington County, Ohio, is also included in the disaster declaration for economic injury only.
Article Photos
Photo by PAMELA BRUST
D. Jelani Miller, public affairs specialist with the U.S. Small Business Administration’s Office of Disaster Assistance, Thursday met with the Wood County Commission to outline deadlines and procedures for disaster relief loans for eligible homeowners, renters, businesses and nonprofit groups for physical and economic injury.
"If they had damage the SBA can assist. If we cannot, as long as you fill out an application, we can refer you back for possible grant assistance. But they have to apply. Some people see the word loan and they don't want to apply, but we can't help them if they don't apply and the deadlines are looming," Miller said.
The deadline to apply for help with physical damage resulting from the storms is Nov. 19. The deadline to apply for help with storm-related economic injury is June 19. Miller said economic injury could apply to a business which did not have the resources to continue to pay employees, and keep their doors open because of the storms' impact.
Impacted home, businesses owners or owners of small agricultural cooperatives in the declared disaster area may be eligible for low-interest SBA loans.
Fact Box
Counties Included
- Boone, Cabell, Clay, Fayette, Greenbrier, Jackson, Kanawha, Lincoln, Mason, McDowell, Mercer, Mingo, Monroe, Nicholas, Pocahontas, Raleigh, Roane, Tyler, Webster and Wood in West Virginia.
- For economic injuries sustained during the storms contiguous counties of Braxton, Calhoun, Doddridge, Lewis, Logan, Pendleton, Pleasants, Putnam, Randolph, Ritchie, Summers, Upshur, Wayne, Wetzel, Wirt and Wyoming in West Virginia were included.
- The contiguous counties of Martin and Pike in Kentucky; Athens, Gallia, Lawrence, Meigs, Monroe and Washington in Ohio and Allegheny, Bath, Bland, Buchanan, Craig, Giles, Highland and Tazewell in Virginia were included for economic injury only.
Deadlines for application:
- The deadline to apply to the SBA for physical damage done by the June-July storms is Nov. 19.
- Deadline for economic injury applications is June 19, 2013.
- For more information, contact the SBA's Disaster Assistance Customer Service Center by calling 800-659-2955, emailing disastercustomerservice@sba.gov. or visiting the SBA's website at www.sba.gov. Deaf or hard-of-hearing individuals may call 800-877-8339. Applicants may also apply online using the Electronic Loan Application via the SBA's website: https://disasterloan.sba.gov/ela.
The help is available to homeowners, renters and non-farm businesses of all sizes, as well as private nonprofit organizations with property damaged by the disaster. Renters may be eligible for loans of up to $40,000 to repair or replace their disaster damaged personal property. Homeowners may be eligible for up to $200,000 to repair or replace disaster damaged real estate, plus up to $40,000 to repair or replace their disaster damaged personal property. Interest rates on home loans range from 1.9 to 3.8 percent; on businesses, from 4-6 percent and nonprofit organizations from 3-3.1 percent. Economy injury loans on businesses and small agricultural cooperatives 4 percent, and for nonprofits, 3 percent. Loans up to a maximum of 30 years are allowable.
Non-farm businesses of all sizes and private nonprofit organizations may be eligible for up to $2 million to repair or replace business assets physically damaged by the disaster including damage to buildings, machinery and equipment, furniture and fixtures, inventory and other business assets.
Small businesses, small agricultural cooperatives, and most private, nonprofit organizations of all sizes not physically damaged but suffering economic loss due to the disaster may also be eligible for SBA disaster loans. These working capital loans provide funds for ongoing expenses until the businesses returns to normal.
For more information, contact the SBA's Disaster Assistance Customer Service Center by calling 800-659-2955, emailing disastercustomerservice@sba.gov. or visiting the SBA's website at www.sba.gov. Deaf or hard-of-hearing individuals may call 800-877-8339. Applicants may also apply online using the Electronic Loan Application via the SBA's website: disasterloan.sba.gov/ela.
