SBA Low-Interest Loans Available to Help Tazewell County Residents and Businesses Affected by July Floods
Governor Terry McAuliffe announced that the U.S. Small Business Administration (SBA) is making low-interest disaster loans available to homeowners, businesses, and private, non-profit organizations in Tazewell County to help them recover from severe flooding that occurred on July 5.
Residents and businesses in neighboring jurisdictions are also eligible to apply for these loans, including Buchanan County, Russell County, Bland County, and Smyth County.
“More than 20 homes and businesses in the Town of Pocahontas and across Tazewell County were damaged in this severe flash flood, and the low-interest disaster recovery loans will help many as they rebuild,” said Governor McAuliffe. “Virginia is committed to assisting these communities so families and business owners can recover as quickly as possible. My Administration is working with the SBA to make sure this assistance is provided in the most effective and efficient manner.”
Loans up to $200,000 are available to homeowners to help repair their home to its pre-disaster condition. Personal property loans are also available for homeowners or renters with up to $40,000 to help repair or replace personal items, such as clothing, furniture, and automobiles. Businesses that suffered damage can receive loans up to $2 million to help repair or replace damaged property or provide working capital. The SBA will open a Disaster Loan Outreach Center (DLOC) today at 1289 Boissevain Road in Boissevain to assist with the application process. The DLOC hours will be:
• Monday to Friday, 8 a.m. – 5 p.m.
• Saturday, 10 a.m. – 2 p.m.
• Closed Sunday, August 23
• The DLOC will close Thursday, August 27 at 3 p.m.
Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela. Disaster loan information and applications may also be obtained 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 firstname.lastname@example.org. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.