The Small Business Administration is in the Fire Hall through Tuesday to assist flood victims with low interest loans. Please read below for more information.
From TEMA Press Release:
DISASTER LOANS NOW AVAILABLE TO HELP FLOOD-IMPACTED BUSINESSES, RESIDENTS IN 19 TN COUNTIES
NASHVILLE, Tenn. –
Tennessee Gov. Bill Lee announced today the U.S. Small Business Administration (SBA) will make its disaster loan program available in five counties recovering from the severe storms and flooding from Feb. 6 through Feb. 24, 2019. “We are committed to pursuing every assistance option available to help Tennesseans put their lives and businesses back together from the floods earlier this year,” Gov. Lee said. The SBA declaration covers the following Tennessee counties: Decatur, Hardin, Humphreys, Perry, and Sevier, and the adjacent counties of Benton, Blount, Carroll, Chester, Cocke, Dickson, Henderson, Hickman, Houston, Jefferson, Knox, Lewis, McNairy, and Wayne.
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage. Interest rates are as low as 4 percent for businesses, 2.75 percent for nonprofit organizations, and 2.063 percent for homeowners and renters with terms up to 30 years. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
SBA will also open seven Disaster Loan Outreach Centers in Tennessee and make representatives available to help individuals complete their applications and to answer questions about the loan program. The Disaster Loan Outreach Centers will open Tuesday, June 25, operating until Tuesday, July 2:
The Humphreys County Location is:
City of Waverly Fire Department
107 East Main St.
Waverly, TN 37185
Hours: 9 a.m. to 6 p.m. Saturday, June 29, 10 a.m. to 2 p.m.
All Disaster Loan Outreach Centers are closed on Sundays.
Full Press Release (PDF)