SBA Disaster Assistance Approved for Mobile, Pike & Surrounding Counties | News

MONTGOMERY – Governor Robert Bentley on Thursday announced that Mobile, Pike and surrounding counties have been approved for disaster assistance in the form of low-interest rate loans from the U.S. Small Business Administration.

“This will allow many homeowners, businesses and nonprofit organizations that suffered damage from the Christmas Day tornado outbreak to receive financial assistance at low interest rates,” Governor Bentley said.  “I appreciate the Small Business Administration approving Alabama’s request for assistance.”

Based on damage assessments from the Christmas Day storms, Mobile and Pike Counties are the two primary counties listed in an SBA disaster declaration approved Thursday afternoon.  The declaration also covers counties that are contiguous to Mobile and Pike Counties.  In Alabama, those counties are Baldwin, Barbour, Bullock, Coffee, Crenshaw, Dale, Montgomery and Washington.  In Mississippi, the contiguous counties are George, Greene and Jackson.

Homeowners, renters, businesses and nonprofit organizations that qualify for assistance will have the following options from the SBA:

Home Disaster Loans:

• Renters and homeowners alike may borrow up to $40,000 to repair or replace clothing, furniture, cars, appliances, etc., damaged or destroyed in the disaster.
• Homeowners may apply for up to $200,000 to repair or replace their primary residence to its pre-disaster condition.

Business Physical Disaster Loans:

• Loans of up to $2 million to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment.
• Businesses of any size are eligible.  Private, nonprofit organizations such as charities, churches, private universities, etc., are also eligible.

Economic Injury Disaster Loans:

• If a small business or private, nonprofit organization has suffered economic injury, regardless of physical damage, and is located in an SBA-declared disaster area, they may be eligible for financial assistance of up to $2 million from the U.S. Small Business Administration.

Those interested in applying for SBA low-interest rate loans can receive more information by calling the SBA’s Customer Service Center at 800-659-2955 (or 800-877-8339 for the deaf and hard-of-hearing).  Additional information, including SBA disaster loan fact sheets, can be found on the SBA’s website at www.sba.gov.

“I’m extremely pleased we are going to be able to offer this assistance to individuals and businesses in several counties affected by the Christmas Day tornadoes,” Alabama Emergency Management Agency Director Art Faulkner said.  “We will continue to work with local officials to assist those who may not be eligible for SBA assistance through other options.”

Serve Alabama, the Governor’s Office of Faith-Based and Volunteer Service, continues to encourage storm survivors in need of assistance to call 211 (or 888-421-1266).  Operators can give callers more information on recovery resources available in various communities.

Information Source: Governor's Press Office