ATLANTA – The U.S. Small Business Administration (SBA) announced today that Leslie, Magoffin, Martin and Whitley Counties are now included as primary counties in the disaster declaration in Eastern Kentucky for the severe storms, flooding, landslides and mudslides that began July 26. Physical disaster loans are now available to businesses and residents of those counties. In addition, small businesses in five additional counties in Kentucky, Tennessee and Virginia are now eligible to apply for low interest working capital disaster loans from the SBA.

The disaster declaration covers Breathitt, Clay, Floyd, Knott, Leslie, Letcher, Magoffin, Martin, Owsley, Perry, Pike and Whitley Counties in Kentucky, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDLs): Bell, Harlan, Jackson, Johnson, Knox, Laurel, Lawrence, Lee, McCreary, Morgan and Wolfe in Kentucky; Campbell and Claiborne in Tennessee; Buchanan, Dickenson and Wise in Virginia; and Mingo and Wayne in West Virginia.

To assist small businesses and nonprofit organizations in the disaster area apply for disaster loans, SBA has established three Business Recovery Centers that are open seven days a week from 9 a.m. to 7 p.m. as follows:

Perry County -SBA Business Recovery Center
Hazard Community and Technical College
Jolly Classroom Center
1 Community College Drive Hazard, KY 41701
Hours: Daily, 9 a.m. – 7 p.m.

Letcher County -SBA Business Recovery Center
Appalachian Groundswell
229 East Main Street
Whitesburg, KY 41858
Hours: Daily, 9 a.m. – 7 p.m.

Clay County -SBA Business Recovery Center
Eastern Kentucky University – Manchester
50 University Drive
Manchester, KY 40962
Hours: Daily, 9 a.m. – 7 p.m.

Customer Service Representatives will be available as indicated above at the BRCs to answer questions about the disaster loan program and assist business owners in completing their applications. Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. All visitors to the BRCs are encouraged to wear a face mask.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.

Applicants may be eligible for a loan amount increase of up to 20 percent of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, elevation, retaining walls, and landscaping to help protect property and occupants from future damage caused by a similar disaster.

Interest rates are as low as 3.04 percent for businesses, 1.875 percent for nonprofit organizations and 2.188 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/ and should apply under SBA declaration # 17546.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or by sending an email to DisasterCustomerService@sba.gov. Loan applications can be downloaded from the SBA’s website at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. The physical loan application deadline is Sept. 28, 2022. The deadline to return economic injury applications is May 1, 2023.

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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.