Friday, March 23, 2018
LANSING, Mich. – Now that the U.S. Small Business Administration (SBA) has completed damage assessments, Gov. Rick Snyder today requested an SBA disaster declaration for four Michigan counties affected by severe flooding in February.
If approved, the SBA disaster assistance program would make low-interest loans available to eligible residents and businesses in Arenac, Berrien, Ingham and Kalamazoo counties and the neighboring counties of Allegan, Barry, Bay, Branch, Calhoun, Cass, Clinton, Eaton, Gladwin, Iosco, Jackson, Livingston, Ogemaw, Shiawassee, St. Joseph, and Van Buren.
“We are making every effort to assist our communities as they continue to recover from last month’s floods,” Snyder said. “We’re hopeful the SBA will grant our request for assistance to help Michiganders repair their damaged homes and replace personal property.”
Based on information provided by the Michigan State Police, Emergency Management and Homeland Security Division (MSP/EMHSD), state officials requested representatives of the SBA to conduct a preliminary damage assessment of the affected area to document damage to homes and businesses that sustained uninsured losses of 40 percent or more. This assessment was conducted from March 16-20.
The SBA disaster assistance program provides low-interest disaster loans for uninsured losses incurred by homeowners, renters, businesses and nonprofit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed. The SBA tailors the repayment of each disaster loan to the borrower’s financial capability.
Additional information about the SBA disaster assistance program is available at www.sba.gov.
Snyder declared a state of disaster on March 12 for 17 counties and two cities after heavy rainfall and snow melt on Feb. 19-21 resulted in widespread flooding damage, making state aid and financial assistance available to communities in the disaster area.