VERMONT – U.S Small Business Administration (SBA) flood recovery funding is available to individuals as well as businesses, through its Office of Disaster Recovery & Resilience.
Homeowners, renters, businesses and nonprofits are eligible to apply for loans with interest rates as low as 2.688% that may help while applications for other funding sources, such as insurance and FEMA are being applied for and processed.
People can apply with FEMA and SBA at the same time and it will not affect their eligibility. There is no need to wait for insurance to settle.
Loans are available in amounts up to $500,000 for homeowners and up to $100,000 for homeowners and renters to cover flood damaged personal property, and even automobiles
Businesses can apply for physical or economic damages up to $2 million.
There are no prepayment penalties and no interest or payments in the first year.
Go into any recovery center for assistance to get personal questions answered and to begin the application, or start the application at sba.gov/disaster.
Paul Fixx is editor of The Hardwick Gazette and lives in Hardwick.
