Help is in town for residents of Madison and surrounding counties whose home, rental property or business was damaged during the May 8 tornado, and loans are available at a special low-interest rate.
The U.S. Small Business Administration (SBA) will be in Richmond until Thursday, July 16, and is the result of a disaster declaration request from Gov. Steve Beshear.
The declaration covers Madison, Clark, Estill, Fayette, Garrard, Jackson, Jessamine and Rockcastle counties.
SBA representatives are located at the Joint Information Center at 558 S. Keeneland Drive across from the Madison County Emergency Medical Service building. They are available for assistance Monday through Friday, 9 a.m. to 6 p.m.. The center will close July 16 at 6 p.m.
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters can receive loans up to $40,000 to repair or replace damaged or destroyed personal property, according to Frank Skaggs, director of SBA’s Disaster Field Operations Center in Atlanta.
Some loans have an interest rate as low as 2.437 percent for homeowners and renters, and 4 percent for businesses, with terms up to 30 years, said Kathy Cook, communications specialist for the U.S. Small Business Administration.
Those residents who wish to apply for a loan should not be intimidated by the filing process, Cook said.
“People think that because it’s government paperwork, it’s going to be difficult,” Cook said. “We can help them fill out the paperwork.”
Those approved for a loan have no obligation to enter into an agreement with the SBA, Cook said. In fact, they can take the SBA’s assessment and use it to help them determine their damage repair needs.
“If nothing else, it will give them the opportunity to learn what we feel is their damage,” she said. “My concern is that people will second guess what their needs are.”
Injury disaster loans also are available and can be used to businesses that were financially strained during the disaster.
“A business may or may not have physical damage, but because of the disaster, they may not be able to pay their bills had the disaster not occurred,” Cook said. “Let’s say the tornado came down a road and your restaurant was next to a building that was damaged. Customers might not want to go there because it looks devastated. That business can start losing revenue and start having difficulty paying their bills.”
Individuals and businesses unable to visit the Center in person may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8229 for the hearing impaired), Monday through Friday from 8 a.m. to 9 p.m., or by sending an e-mail to disastercustomerservice@sba.gov.
Business loan applications can also be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance.
Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas, 76155.
Kentucky residents affected by the storms may apply for disaster loans from SBA’s secure Web site at www.disasterloan.sba.gov/ela/.
The filing deadline to return applications for physical property damage is Aug. 24. The deadline to return economic injury applications is March 24, 2010.
Ronica Shannon can be reached at rshannon@richmondregister.com or 624-6608.
Local News
Repair storm damage at low interest
Beshear sends SBA to city
- Local News
-
-
BREAKING NEWS: Grand jury indicts men in double-murder
Two men accused of killing a Richmond couple for money and then hiding their bodies in graves along Tates Creek Road were indicted Wednesday on capital charges by a Madison grand jury.
Matthew Denholm, 27, and Daniel Keene, 26, were both indicted on two counts each of murder, kidnapping and abuse of a corpse charges. They also were each indicted on tampering with physical evidence and first-degree burglary charges. -
Kentucky fallen officers honored at annual ceremony
The best part about Alexandria Police Department Officer James Sticklen’s job was being able to work with kids almost every day.
He was the school resource officer Campbell County Middle School.
“He always used to say there are no bad kids, they just make bad decisions,” said his wife, Laurie. -
Shell beats Mick by 54 votes
Republican Jonathan Shell and Democrat Bradley “Bud” Montgomery will face off in November for the 36th District state representative seat.
Shell received 810 votes in Madison County, beating Republican opponent Nathan Mick by only 54 votes. -
Woman attacked on Berea College walking track
A woman on the Berea College walking track suffered minor injuries Saturday when an unknown man struck her in the face twice, according to Berea Police Public Information Officer Jake Reed.
-
Obama beats ‘uncommitted’ only by 85 votes in Madison County
President Barack Obama won the votes of slightly more than half of Madison County’s Democratic voters Tuesday in the Kentucky primary to select delegates to his party’s nominating convention.
-
Stolen saxophone recovered, two people arrested in connection with theft
Police recovered a saxophone reported stolen earlier this month and arrested two people in connection with its theft.
-
Election results
Madison Circuit Court Clerk Darlene Snyder
-
Newcomer Morgan leads city commission voting
Laura Durham Morgan led the ballot of 14 candidates Tuesday in the non-partisan primary to select eight finalists in the Richmond City Commission race. -
Snyder wins clerk’s race
Darlene Snyder won the Madison circuit court clerk’s race by nearly 400 votes Tuesday, an outcome she attributes to her campaign volunteers.
“It feels like our hard work has paid off,” Snyder said Tuesday night outside the home of A.B. Grant, the site of her victory party. Nearly four dozen supporters were hugging, cheering and high-fiving both outside and inside the home after the results came in. -
Berry kept wheels going round and round for 45 years
Madison County Schools had 29 employees retire this year, some after careers spanning several decades.
While several retirees have more than 30 years of service, only bus driver Louda Berry can boast a tenure of 45 years. - More Local News Headlines
-
BREAKING NEWS: Grand jury indicts men in double-murder
Secret Service Boss: 'I Apologize'
Giant Bull Head Draws Drivers to South Dakota
Astrodome Fades As Houston Decides Fate
Egyptians Vote in Historic Presidential Election
Franciscan Files Tell Stories of Priest Abuse
Wildfire Destroys 2 Homes
Flight Diverted After Suspicious Note
Joplin Remembers Deadly Tornado, 1 Year Later
Panel Recommends Against Routine Prostate Test
Fired Lingerie Employee Claims Discrimination
Joplin Marches to 'Remember' Tornado Victims
Facebook Shares Continue Negative Slide
Cuba Waiting for Cyber Age to Come
8 Hurt in Oklahoma Shooting After NBA Playoff
Sheriff: DNA Links Suspect to Missing CA Teen
US Airways: Diverted Flight Has 'Landed Safely'
Revived Focus on Regulation After JPMorgan Loss
