The Alabama Emergency Management Agency is looking to the federal government to provide assistance for storm survivors affected by the 15 tornadoes that struck the state on Christmas Day.
The request is being asked of the U.S. Small Business Administration. Storm survivors are being asked to call 2-1-1 for area resources.
The state EMA says the assistance request from the SBA is one avenue to help support the state's recovery. If the request is granted, homeowners, renters and business owners may become eligible for disaster and economic injury loans.
Joint SBA damage assessments will take place in Mobile and Pike Counties next week.
There are three options for qualified storm survivors:
Home Disaster Loans
Renters and homeowners alike may borrow up to $40,000 to repair or replace clothing, furniture, cars, appliances, etc. damaged or destroyed in the disaster. Homeowners may apply for up to $200,000 to repair or replace their primary residence to its pre-disaster condition.
Business Physical Disaster Loans
Loans up to $2 million to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
Economic Injury Disaster Loans
If a small business or private, nonprofit organization has suffered economic injury, regardless of physical damage, and is located in a declared disaster area, they may be eligible for financial assistance up to $2 million from the U.S. Small Business Administration.
INFORMATION SOURCE: Alabama Emergency Management Agency
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