March 14 Tornado Victims Urged to Apply for SBA Assistance
COLUMBUS – In the wake of the devastating March 14 tornadoes that ripped through Ohio, survivors are being encouraged to apply for assistance from the U.S. Small Business Administration (SBA) in addition to FEMA aid. The SBA is offering low-interest disaster loans to help individuals, homeowners, renters, and businesses recover from the destruction.
Individuals in the designated counties affected by the tornadoes have until July 1 to apply for assistance from both FEMA and the SBA. Homeowners may qualify for loans of up to $500,000 to repair or rebuild their homes, while renters and homeowners who lost personal belongings can borrow up to $100,000 for replacements.
Business owners in the impacted areas are also eligible for SBA assistance, with low-interest rates and flexible repayment options available. The SBA is a crucial source of recovery funds for survivors, covering losses that may not be fully compensated by insurance or other resources.
Moreover, SBA loans can be used to mitigate future disaster risks by funding building upgrades and property improvements. By taking proactive measures to strengthen their homes and businesses, individuals can prevent future damage and reduce the likelihood of unexpected costs.
For more information on SBA disaster assistance and how to apply, visit www.sba.gov/funding-programs/disaster-assistance. Additional details on disaster recovery in Ohio can be found at www.fema.gov/disaster/4777. Assistance is available to all individuals regardless of race, religion, nationality, or economic status, with accommodations provided for those with limited English proficiency or disabilities.
In times of crisis, it is essential for survivors to explore all available resources to aid in their recovery and resilience. The SBA stands ready to support tornado victims on their path to rebuilding and safeguarding their communities.
