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SBA briefs Boonville council on disaster loans, application deadlines for Cooper County
Summary
An SBA public affairs specialist told Boonville officials that Cooper County is included in an Oct. 22 presidential disaster declaration for March 30–April 8 storms, explained low-interest loan programs for homeowners, renters and businesses, and provided application deadlines and contact details.
Raynada Mason, a public affairs specialist with the U.S. Small Business Administration’s Office of Disaster Recovery and Resilience, briefed the Boonville City Council on available federal disaster aid at its Jan. 5 meeting.
Mason said Cooper County was included in a presidential disaster declaration issued Oct. 22 covering storms from March 30 through April 8. She summarized the SBA’s loan programs: homeowner and renter loans at a 2.75% interest rate; renters may qualify for up to $100,000; homeowners for up to $500,000 for real estate repairs and an additional up to $100,000 for personal property replacement, including vehicles. Businesses may qualify for up to $2,000,000 at interest rates starting near 4%, and nonprofits may qualify at approximately 3.625%.
Mason noted a one-year deferral on loans and loan terms up to 30 years, and added that mitigation assistance of about 20% is available for strengthening rebuilt property. She said the physical-damage application deadline is Feb. 20 (the transcript notes a 60-day grace period from an earlier Dec. 22 deadline) and that economic injury applications (for businesses) are open through July 22.
For more information, Mason directed residents to the SBA disaster web page (sba.gov/disaster) and to the SBA customer service number provided in the meeting record. She said staff would provide hard-copy flyers to city staff and email an updated flyer with grace-period details.
Why it matters: The SBA presentation reminded residents and local businesses that federal loans and mitigation funds remain available following the spring storms, and it clarified deadlines and contact points for applications. Councilors asked about local use; Mason said Cooper County has had significant approvals and offered to email a county-specific breakdown.
At the meeting Mason said Cooper County has nearly $1,000,000 in approvals across the declaration and invited anyone with questions to contact SBA customer service or the online portal.
