In the News

Local small business owners, homeowners and renters still struggling after the April storms now have another source for assistance funding: Gov. Bob McDonnell announced Thursday that the U.S. Small Business Administration approved his request for low-interest loans for Washington and Pulaski counties.

Loans are available to businesses, homeowners and renters in those counties, as well as adjacent areas, including Scott, Smyth, Russell and Grayson counties and the city of Bristol, Va., according to a written statement from the Governor’s office announcing the approval.

McDonnell sent a request to the SBA on June 24, a day after the Federal Emergency Management Agency denied McDonnell’s appeal of their earlier denial of federal assistance after the April 28 storms.

The SBA’s reply came within a week, and Rep. Morgan Griffith, R-Salem, said in a written statement that he is pleased with their quick response.

“These loans will help homeowners and businesses in the impacted communities repair damaged property and continue the recovery process in Southwest Virginia,” Griffith said.

The SBA can provide homeowners real property loans of up to $200,000 to repair or restore their primary home to its pre-disaster condition and personal property loans up to $40,000 to help repair or replace personal property, such as clothing, furniture and automobiles lost in the disaster, according to the statement.

Businesses can apply for loans up to $2 million to help repair or replace damaged property as well as for loss of business, according to the statement.

“These low-interest loans will be a great help for many of those still recovering from the April tornadoes,” McDonnell said in the statement. “However, they will not help everyone and Virginians must still lend a helping hand to those working to recover from these storms wherever we can. That is why we continue asking corporations and individual citizens to give whatever they can to aid those impacted by these storms.”

Individuals and businesses can obtain information and loan applications by calling the SBA’s Customer Service Center at (800) 659-2955 Monday through Friday, from 8 a.m. to 9 p.m., or by sending an e-mail to disastercustomerservice@sba.gov. Business loan applications can be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Virginians also may apply for disaster loans from SBA’s secure website at https://disasterloan.sba.gov/ela/.

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