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SBA notifies Kenmore residents of disaster loan deadlines and rates after December storm
Summary
A Small Business Administration representative told the Kenmore council a presidential disaster declaration opened recovery loan options after a December storm; the deadline for physical-damage applications is June 10 and for economic injury is January 2027, with specified interest rates and borrower terms.
Charles Kite of the U.S. Small Business Administration's Office of Disaster Recovery and Resilience addressed the council during public comment to notify residents and businesses about disaster recovery resources following a mid-December storm. Kite said the event received a presidential disaster declaration that makes additional SBA resources available.
Key details provided by Kite: the filing deadline for physical damage is June 10, 2026; the deadline for economic injury applications is January 2027; interest rates begin at about 4% for businesses, about 2.875% for homeowners and 3.625% for nonprofits; the programs include 12 months of deferment and 12 months interest free in some terms and no prepayment penalty. Kite provided contact information for applicants and asked the city to help get that information to residents.
The clerk noted public comment is not a back-and-forth forum, but staff agreed to share the information publicly; the council thanked Kite for the outreach.
Contact information provided: phone 1806592955 and lending@sba.gov (as provided by the speaker).
