The U.S. Small Business Administration (SBA) is encouraging disaster loan recipients in Kentucky to request additional funds aimed at protecting their properties from future storms. Eligible recipients have up to two years from their loan approval date to seek an increase of up to 20% based on their verified physical damages. These additional funds can be used for projects such as regrading landscaping for improved drainage, installing French drains or sump pumps, and enhancing structural resilience against high winds.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” stated Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. He further emphasized the importance of homeowners and businesses working with contractors and mitigation professionals to enhance their preparedness for storms, while benefiting from SBA’s physical damage loans.
Interested individuals can find more information about mitigation options at sba.gov/mitigation. The application for additional funds can be completed online at sba.gov/disaster. Additionally, the SBA’s Customer Service Center is available at (800) 659-2955 or through the email disastercustomerservice@sba.gov for further assistance. Telecommunications relay services can be accessed by dialing 7-1-1 for individuals who are deaf, hard of hearing, or have speech disabilities.
The SBA is committed to supporting entrepreneurs and small business owners with resources and backing from the federal government. It operates through an extensive network of field offices and public-private partnerships to help start, grow, or expand businesses and recover from declared disasters. More information can be found at www.sba.gov.