SBA Disaster loans up to $500,000 can be made available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles. Businesses may borrow up to $2 million for both physical and economic losses due to flood and storm damage.
While Snohomish County and partners worked to make a strong case for Federal Emergency Management Agency (FEMA) disaster relief, the SBA loans offer many in our community a good option to recover from flood damage more fully, said Lucia Schmit, the County’s Emergency Management director.
Applying for an SBA loan now would not impact future eligibility for FEMA funding, should that become available.
“My team has been meeting with the community to better understand the impacts of the storm,” Schmit said. “Many Snohomish County residents and businesses were deeply impacted. We remain hopeful that we will receive a FEMA declaration and additional support. Even so, governmental disaster recovery funds rarely make households whole. These SBA loans may help with those losses.”
The SBA Disaster Loan Outreach Center is located in the Big Study Room at the Snohomish Library, 311 Maple Ave., Snohomish. The center’s hours are from 9 a.m. to 6 p.m., Monday through Thursday, and from 10 a.m. to 6 p.m. on Friday. After March 7, the center also is scheduled to be open Saturdays, from 1 p.m. to 5 p.m.
Residents, businesses, or private nonprofits with damages can also get additional disaster assistance information by applying directly online at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
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