The U.S. Small Business Administration (SBA) is urging disaster loan recipients in Mississippi to apply for additional funds aimed at safeguarding their homes and businesses from future storms. Loan recipients have a two-year window from their loan approval date to request an increase of up to 20% of their verified physical damages. This increase is intended to cover the cost of improvements.
Eligible mitigation projects may include regrading landscaping for better drainage, installing a French drain or sump pump, and strengthening structures against high wind damage. Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA, stated, “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 professionals to enhance their storm readiness while utilizing SBA’s physical damage loans.
For more information on mitigation options, individuals can visit sba.gov/mitigation. To apply online, they can go to sba.gov/disaster. Additional assistance is available through SBA’s Customer Service Center at (800) 659-2955 or via email at disastercustomerservice@sba.gov. For those who are deaf, hard of hearing, or have a speech disability, telecommunications relay services can be accessed by dialing 7-1-1.
The U.S. Small Business Administration plays a crucial role in supporting small businesses across America by providing resources necessary for business ownership and recovery from declared disasters.