Text Size: A
A
A
A
Representatives from the U.S. Small Business Administration’s Office of Disaster Assistance are ready to help all Hamilton County flood victims decipher the federal loans available to them for repairs.
SBA field operations specialist Fred Wagner, who visited East Ridge City Hall last week, said that the damage done in Tennessee is not enough to be covered by the Federal Emergency Management Agency, which offers grants.
“That’s where we come in,” he said, explaining that SBA offers loans for renters, homeowners and business owners in Hamilton County affected by the September flooding.
SBA reservist John Jones, a resident of Missionary Ridge, said most of his visitors need loans to fix basement walls that collapsed due to flooding, a problem not covered by most homeowners insurance policies.
Jones, a retired loan officer, said he works with residents to translate their troubles into something SBA offers.
Wagner said clients can expect an official to inspect the loss about one week after submitting a loan application. They’ll get confirmation within the next two weeks, he said.
Wagner said hydrologists, landscape architects and engineers can offer suggestions to property owners to prevent future problems, and SBA will provide more funds to apply those solutions, like raising a heating and air conditioning unit or an entire mobile home three feet off the ground.
“A lot of products and processes have come a long way in the last 10 years that might stop something that’s been a problem for the last 50 years,” Wagner said.
Home Disaster Loans, Business Physical Disaster Loans and Economic Injury Disaster Loans are available.
There is no cost to apply for an SBA loan and no obligation to participate. The application deadline is Dec. 21.
For more information call (800) 659-2955.
del.icio.us
digg
Furl
Spurl
YahooMyWeb
co.mments
Ma.gnolia
De.lirio.us
blogmarks
BlinkList
NewsVine
scuttle
Fark
Shadows
Comments
Post a comment
Commenting requires registration.