TEMA: Disaster loans now available for 19 counties affected by Feb. flooding

Sumner County flash flooding_411609

Gov. Bill Lee announced Monday in the U.S. Small Business Administration meeting that the state will make a disaster loan program available to residents and businesses affected by flooding and severe storms from Feb. 6-24, 2019.

The SBA declaration includes the five main counties affected by the storms, which are: Decatur, Hardin, Humphreys, Perry and Sevier County. Also included, are the 14 adjacent counties of Benton, Blount, Carroll, Chester, Cocke, Dickson, Henderson, Hickman, Houston, Jefferson, Knox, Lewis, McNairy and Wayne County.

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

Small businesses, agriculture cooperatives and businesses engaged in aquaculture can also qualify for Economic Injury Disaster Loan assistance through the program, which is available to residents of all previously listed counties regardless of if the business suffered any physical damage.

According to officials, the loans feature terms up to 30 years and interest rates as low as 4% for businesses, 2.75% for non-profit organizations and 2.063% for homeowners and renters.

However, the SBA will set specific loan amounts and terms based on each applicants financial profile.

Applicants may apply online at disasterloan.sba.gov/ela or visit one of the following Disaster Loan Outreach Centers:

Blount County:
Department of Development Services
1221 McArthur Road
Maryville, TN.

Decatur County:
Decatur County Library
20 W. Market St. 
Decaturville, TN

Hardin County:
Hardin County Fire Department
90 Walnut St.
Savannah, TN.

Humphreys County:
City of Waverly Fire Dept. 
107 E. Main St. 
Waverly, TN.

Humphreys County:
City of Waverly Fire Dept. 
107 E. Main St. 
Waverly, TN.

Perry County
Tennessee Career Center
113 Factory St.
Lindon, TN.

Sevier County
King Family Library
408 High St.
Sevierville, TN.

Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-ofhearing), or by emailing disastercustomerservice@sba.gov.

Loan applications can also be downloaded at www.sba.gov. Completed applications should be returned to the Disaster Loan Outreach Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Aug. 20, 2019. The deadline to return economic injury applications is March 23, 2020.

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