The U.S. Small Business Administration (SBA) is urging disaster loan recipients in Kentucky to apply for additional funds aimed at protecting 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 can be used to cover the cost of improvements, such as 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, highlighted the benefits of this program: “One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” he said. 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 are directed to visit sba.gov/mitigation. Applications can be submitted online at sba.gov/disaster. Additionally, applicants may contact SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for further details on SBA disaster assistance. Telecommunications relay services are available by dialing 7-1-1 for those who are deaf, hard of hearing, or have a speech disability.
The U.S. Small Business Administration plays a vital role in supporting small businesses across America by providing resources and support necessary for business ownership and recovery from declared disasters through its network of field offices and partnerships.