MCNAIRY COUNTY, Tenn. — Some West Tennesseans are still picking up the pieces after a major storm.
“A lot of cities and subdivisions were hit in different portions,” public affairs specialist Liliana Tschanett said.
People are still trying to recover from storm damage caused by remnants of Tropical Storm Olga back in October, and now the U.S. Small Business Administration is in Tennessee to help with recovery efforts.
Tschanett says any business owner, homeowner, nonprofit or renter who still needs extra help with storm recovery is eligible to apply for help.
“The assistance we offer is in the form of low-interest federal disaster assistance loans,” Tschanett said.
These loans include business physical disaster loans.
“For businesses, it covers assets for the business that have been physically damaged in the storm,” Tschanett said.
It also includes economic injury disaster loans and home disaster loans.
Economic injury loans are for small businesses, small agricultural cooperatives and most private nonprofits, while home disaster loans are for homeowners and renters.
“This is extremely helpful for a lot of people that suffered not only physical damage, but also economic damage,” Tschanett said.
To apply, you’ll need to bring documents required for regular loans through a bank, along with proof of loss, proof of ownership, and the last two years of tax returns.
Tschanett explains one of the benefits of the loans.
“Once the loan is approved, they don’t need to take it. They can just take portions of it, or just the whole loan,” Tschanett said.
The Decatur County center is at the Decatur County Library in Decaturville, and the McNairy County center is at the Jack McConnico Memorial Library in Selmer.
The deadline to apply for physical damage loans is Feb. 18, 2020, and the deadline to apply for economic injury loans is Sept. 17, 2020.
For more information, you can call the SBA’s customer service center at 1-800-659-2955.
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January 11, 2020 at 08:36AM
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SBA offers assistance to people recovering from storm - WBBJ-TV
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