Haslam Requests SBA Assistance for Disaster Recovery

Low-Interest Loans Could Aid Residents in Henderson and Surrounding Counties
 
NASHVILLE – Tennessee Gov. Bill Haslam has requested assistance from the Small Business Administration (SBA) to help individuals and businesses in Henderson County and the contiguous counties recover from wind, tornado and flooding damages that occurred on Jan. 29, 2013. The additional counties that would be eligible for SBA loans are Carroll, Chester, Decatur, Hardin and Madison as damage to homes and businesses occurred in multiple locations.
 
A survey by the Tennessee Emergency Management Agency (TEMA) and the SBA indicates more than 25 homes and businesses in Henderson County sustained uninsured losses of 40 percent or more of their estimated pre-disaster fair market value.
 
“If Henderson County is designated by SBA, the assistance provided will help Tennesseans rebuild in the wake of these storms,” Haslam said.
 
The damage survey in Henderson County identified 37 homes with major damages, and 146 homes with minor damages. There were 11 businesses identified with major damages and two businesses with minor damages.
 
The SBA provides low interest disaster loans to homeowners, renters, businesses of all sizes and private, non-profit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.
 
To request a SBA designation for a county, the state must first be sure the state and affected communities will not qualify for the federal individual assistance program.
 
The Tennessee Emergency Management Agency and county officials have determined that Henderson and other counties affected by the January storm would not qualify for the Federal Emergency Management Agency’s individual assistance programs based on a formal assessment of the damages.