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.... As you’re no doubt aware, Steuben County and the surrounding area was hit hard by Tropical Storm Fred last summer. Now, the U.S. Small Business Administration has declared the areas “disaster areas,” making low-interest loans available to those who were damaged. Importantly, this help is NOT just for small businesses. Homeowners, renters, nonprofit organizations and businesses of all sizes can apply for loans to help pay for damages not covered by other sources. Because of the time elapsed since the event, it’s quite possible that people have made repairs and funded those repairs using their credit cards, loans or other resources. In such cases, it’s allowable to use SBA disaster loan funds to pay off higher-rate credit cards or loans, or even reimburse savings, to the extent they were used to pay for repairs. And with interest rates as low as 1.563% for homeowners and renters, that could make financial sense. I note that the agenda is set for your Feb. 10 meeting. However, if you could share the attached flyer with your membership, it would go a long way toward informing those who may need this vital form of federal assistance. I have also attached a fact sheet for your reference. Please call or email if I can provide any additional information. Kind regards, Carl Dombek, Public Affairs Specialist Office of Disaster Assistance - Field Operations Center East
U.S. Small Business Administration Cell: 404-695-6628
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