By Sharyn L. Decker
Lewis County Sirens news reporter
CHEHALIS – Low-interest federal disaster loans from the U.S. Small Business Administration are available for those impacted by the flooding last month.
The SBA offers up to $200,000 for homeowners to repair or replace damaged or destroyed real estate, according to the agency. Renters and homeowners both are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Also, businesses of any size and most non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
The SBA indicates in a news release that interest rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations, and 1.938 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
The SBA acted under its own authority to make the disaster declaration last week, following a request from Gov. Jay Inslee.
The SBA can also lend additional funds to homeowners and businesses to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future. Other kinds of loans can help meet working capital needs caused by the disaster, and are available regardless of whether a business suffered any property damage.
The declaration makes assistance available for those affected by severe storms, flooding and landslides from Jan. 3 to Jan. 6 in Grays Harbor, Jefferson, Lewis, Mason, Pacific and Thurston counties.
Heavy precipitation and rising snow levels caused minor flooding on January 5 around Lewis County.
The deadline for most of the applications is March 30. The following are several places to get information:
• Applicants may apply online using the Electronic Loan Application via SBA’s secure website at https://disasterloan.sba.gov/ela
• A Disaster Loan Outreach Center was set to open yesterday in heavily impacted Aberdeen at Grays Harbor County District Court, 2109 Sumner Ave., where individuals can ask question and get help filling out applications.
• Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling 1-800-659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard-of-hearing may call 1-800-877-8339. For more information about SBA’s disaster assistance programs, visit http://www.sba.gov/disaster
• Additional questions can answered by Lewis County Emergency Management at 360-740-1151.
•••
For background, read “News brief: Flood damage scattered and limited” from Friday January 9, 2015, here
Tags: By Sharyn L. Decker, news reporter
I agree with the first part of your statement. This area’s probably always had issues with flooding since the days of George Washington and Eliza Saunders. As far as the “Republican rednecks” thing goes, I’ve found that the more hung up on partisan politics people get the unhappier they are but, hey, it’s your Kool-Aid.
Well, whoever decided to create a town right in the middle of a flood zone and then fill it full of republican rednecks was a genius!
It wasn’t the topic of discussion, Tommy, but my wife and I learned our lesson: We sold our flooded property in Adna and bought a house in town on a street section that didn’t flood in ’07 on a lot built up about 5 or 6 feet above that street, so we’re pretty safe. Thanks for caring, or whatever it is that compels you.
No discussion about NOT living in a flood zone? Stay positive Centralia/Chehalis.
From what I remember when my wife and I had our home flooded in 12/07, FEMA was more concerned with what we lost within the dwelling itself and not with what we lost in our detached garage, so your son and daughter-in-law may be facing an uphill battle. Best thing to do is contact FEMA directly because, if nothing else, it might be less time-consuming than trying to find out via a Google search. I just got done searching the FEMA site and there’s nothing about storage units.
Good luck with this. Even though we were lucky enough to have a place to go when we first lost our home and are back on our feet, it’s still very hard for either of us to look back seven years without a sense of loss that goes far beyond material things.
okay I have a question, my son and his wife lost everything they had in their storage unit that flooded. will fema cover their loss or do they have have to get a loan and pay for their loss?