Financial Aid Now Available for Disaster Zones in 6 Counties
Months after several severe weather events caused substantial damage across Alabama in January, The United States Small Business Association is now offering low-interest loans to businesses, nonprofits, homeowners and renters located in areas affected by disaster.
Until now, there was no promise of financial assistance for families uprooted by tornadoes, and the declaration does not apply to areas affected by tornado outbreaks last month.
When Governor Kay Ivey was faced with demands by communities in need of storm shelters and financial aid last month, their complaints were met with reluctance.
“I’ll pool all the assessments and make a request to the federal government for assistance, but they don’t give out assistance for free,” Gov. Ivey said.
With this declaration from the SBA stepped in, disaster loan assistance will be offered to applicants in need who were affected by the January storms.
According to its website, “SBA provides low-interest, long-term loans for the physical and economic damage caused by a declared disaster.”
As of April 1st, the following counties have officially been declared as disaster areas:
- Bibb County
- Blount County
- Saint Clair County
- Shelby County
- Walker County
- Tuscaloosa County
Individuals and families who require federal assistance need only follow a three step process to apply for a loan: check that your county is declared as a disaster region, apply for a disaster loan, and check back later to view your application status.
Businesses as well as homeowners are encouraged to apply for any of the four types of loans. Types of loans include:
- Home and Personal Property Loans
- Business Physical Disaster Loans
- Economic Injury Disaster Loans
- Military Reservists Economic Injury Loans
For more information on disaster loan assistance, visit SBA’s website.