Flood  Information Update

 

September 19, 2017, the U.S. Small Business Administration announced Wisconsin businesses and residents affected by the heavy rains and flash flooding on July 19-23, 2017, can apply for low-interest disaster loans from the U.S. Small Business Administration ("SBA").

  • Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, and other business assets.
  • Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
  • For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.  Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.
 

Applicants may apply online using the Electronic Loan Application (ELA) via SBA's secure website at: https://disasterloan.sba.gov/ela.  Businesses and individuals may also obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov.  Loan applications can be downloaded at www.sba.gov/disaster.  Completed applications should be returned to the centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

The filing deadline to return applications for physical property damage is November 17, 2017.  The deadline to return economic injury applications is June 18, 2018.

 

 
 
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