The U.S. Small Business Administration (SBA) is urging disaster loan recipients in Kentucky to seek additional funds for safeguarding their homes and businesses against future storms. Recipients have up to two years from the date of their loan approval to request an increase of up to 20% of their verified physical damages, which can be used for improvements.
Eligible projects for these funds include regrading landscaping for improved 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 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. The SBA Customer Service Center is available at (800) 659-2955 or via email at disastercustomerservice@sba.gov for further assistance on disaster aid. 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 supports small business ownership across America by providing resources and support needed for starting, growing, expanding businesses or recovering from declared disasters through its network of field offices and partnerships with public and private organizations.