KENTUCKY (WSIL)---The Small Business Administration has given out over $30 million in disaster relief loans, money that can be used toward rebuilding after physical or economic damage from the December tornado.
The SBA partners with FEMA for long term disaster recovery, giving low interest loans to homeowners, renters, businesses, and some nonprofits following disasters.
For homeowners, these loans are start at 1.43%. These loans can be deferred and have terms up to a maximum of 30 years.
For those who want to apply, the deadline is coming up fast.
"The deadline is very soon, it's coming up February 11th so make sure that, if FEMA, if you're a homeowner or a renter, and FEMA has referred you to SBA to make sure you put that application in," said Sally Graham, a public information officer for the Small Business Administration. "We are here, we have been deployed since December 15th. We're helping anyone who has had damage. Please come see us."Â
Now before applying for the loans, make sure you apply for FEMA disaster assistance and see if you are eligible for their grant programs.
Make sure to finish those applications as soon as possible.