Contributed by the City of Kalamazoo- OFFICE OF THE CITY MANAGER
U.S. Small Business Administration Opens Loan Program to Residents and
Businesses Affected by February Flooding
Kalamazoo, Mich.– The U.S. Small Business Administration (SBA) has approved Governor Rick Snyder’s request for a disaster declaration for the Michigan counties of Arenac, Berrien, Ingham and Kalamazoo. The declaration allows residents and businesses affected by severe flooding in February to apply for financial assistance from the SBA.
Loans of up to $2,000,000 are available to businesses for the repair or replacement of real estate, inventories, machinery, equipment or other physical losses. Home loans are available up to $200,000 for the repair of replacement of real estate and up to $40,000 to replace personal property. Economic Injury Disaster Loans are also available for alleviating economic injuries caused by the disaster. Complete details about SBA Disaster Loan Assistance can be found on the SBA website Loan.
For more information, community members can contact SBA’s Disaster Assistance Customer Service Center by calling 1 (800) 659-2955, emailing disastercustomerservice@sba.gov, or visiting SBA’s Web site at http://www.sba.gov/disaster. Deaf and hard-of-hearing individuals may call (800) 877-8339. Applicants may also apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.