The U.S. Small Business Administration (SBA) is urging disaster loan recipients in Florida to seek additional funding to help safeguard their homes and businesses against future storms. Loan recipients are permitted to request a funding increase up to 20% of their verified physical damage costs, with the deadline for requests being two years from the loan approval date. This increase can be used for improvements such as landscaping regrading for enhanced drainage, the installation of French drains or sump pumps, and reinforcing structures to withstand high winds.
Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, emphasized the benefits of the program, stating, "One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage." He encouraged businesses and homeowners to collaborate with contractors and mitigation experts to enhance storm preparedness using SBA's physical damage loans.
Those interested in exploring mitigation options can visit sba.gov/mitigation, and applications can be submitted online at sba.gov/disaster. Additional information is available through SBA’s Customer Service Center at (800) 659-2955, or by emailing disastercustomerservice@sba.gov. Telecommunications relay services are accessible by dialing 7-1-1 for those who are deaf, hard of hearing, or have a speech disability.
The U.S. Small Business Administration aims to support the American dream of business ownership and assists entrepreneurs and small businesses by providing resources for starting, growing, expanding, or recovering from declared disasters. Its services are accessible through a comprehensive network of field offices and partnerships with public and private entities. More information is available at www.sba.gov.