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SBA outlines disaster-loan help for Stephens County residents after September storm
Summary
An SBA public-affairs specialist told Stephens County commissioners that homeowners, renters, businesses and nonprofits affected by the late-September storm may qualify for low-interest disaster loans and described eligibility windows, loan caps and a nearby disaster-recovery center.
Brian Beard, a public affairs specialist for the U.S. Small Business Administration’s Office of Disaster Recovery and Resilience, told the Stephens County Board of Commissioners that residents and businesses with storm damage between Sept. 24 and Oct. 30 are eligible to apply for SBA disaster loans under the presidential declaration.
“My name is Brian Beard. I’m a public affairs specialist for the Small Business Administration, Office of Disaster Recovery and Resilience,” Beard said, and he urged residents to apply even if they are waiting on insurance decisions. He explained there is “no cost to apply” and that approved homeowners may receive up to $500,000 for physical damage, renters and homeowners up to $100,000 for personal property, and businesses and nonprofits up to $2,000,000 for physical damage and economic injury. Beard said the first year carries no required payments and that many homeowners could replace higher-cost borrowing with a lower-rate SBA loan.
Beard described mitigation add-ons (an additional up to 20% of estimated damage) to “build back stronger” — for example, stronger roofing or storm shutters — and gave the closest disaster-recovery center as the Washington Fire Department, 212 East Court Street in Washington, Wilkes County (open Monday–Saturday, 8 a.m.–6 p.m.). He provided an SBA contact phone number and email for applicants and encouraged people to register first with FEMA where appropriate. The presentation closed with a brief question period from commissioners.
