Haslam Announces SBA Disaster Declaration From July Flooding

Low-Interest Loans Available to Residents in Sullivan and Surrounding Counties

NASHVILLE – Tennessee Gov. Bill Haslam announced today the U.S. Small Business Administration (SBA) has granted his disaster declaration request for Sullivan County and its contiguous counties for the severe storms and flash flooding that occurred on July 20-21, 2013.
 
The declaration includes Carter, Hawkins, Johnson and Washington counties, and an SBA disaster declaration makes homeowners and businesses affected by the disaster eligible for low-interest loans.
 
Those affected have until October 1, 2013 to apply for relief from the physical damage and until May 2, 2014 to apply for relief from economic injury.
 
“Access to the SBA’s disaster loans will help individual homeowners, renters and businesses get their recoveries underway much faster,” Haslam said.

The interest rates for homeowners without credit elsewhere will be 1.875 percent.  Loans for homeowners with credit elsewhere will be 3.750 percent. Interest rates for businesses will be four percent for those without credit elsewhere and six percent for businesses that have credit elsewhere. Additionally, the SBA will open temporary offices to help homeowners and businesses with the disaster loan process. More information on SBA disaster loans is at:

http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/disaster-loans

A joint Tennessee Emergency Management Agency (TEMA) and SBA damage survey shows more than 88 homes and 65 businesses in Sullivan County sustained minor/major damages and loss of inventory. There was one reported death due to the storm.
 
From July 20-21, 2013, a severe weather front in east Tennessee spawned numerous severe wind shears and strong thunderstorms with straight-line winds often exceeding 30 miles per hour, according to the National Weather Service. Flood and wind damage occurred in multiple locations.