Impacted by the 2018 flood? You’ve got until 2 p.m. Thursday to apply in person for a low-interest loan

(Source: WAVE 3 News)
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LOUISVILLE, KY (WAVE) – Kentucky and Indiana businesses and residents impacted by severe storms and heavy flooding from February 21 through March 21 have until Thursday at 2 p.m. to apply in person for a low-interest disaster loan from the U.S. Small Business Administration.

Businesses and private non-profit organizations can borrow up to $2,000,000 to repair or replace damaged property and equipment. Loans up to $200,000 are available to homeowners for real estate.

Those in Hardin, Jefferson, Breckinridge Bullitt, Grayson, Hart, LaRue, Meade, Nelson, Oldham, Shelby, and Spencer counties in Kentucky; Clark, Floyd and Harrison in Indiana can apply for the loan.

The U.S. Small Business Administration has representatives available at two Disaster Loan Outreach Centers until 2 p.m. on March 31. Those centers are located at:

West Point City Hall 509 Elm Street West Point, KY 40177 T.J. Middle School First Neighborhood Place 1503 Rangeland Road Louisville, KY 40219

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Interest rates are as low at 3.58 percent for businesses, 2.5 percent for non-profit organizations, and 1.813 percent for homeowners and renters with terms up to 30 years.

If applicants cannot make it to talk with someone in person, click here to apply online.

Businesses and individuals may also obtain information and loan applications by calling the customer services center at 1-800-659-2955 (1-800-877-8339 for the deaf or hard of hearing) or by clicking here. Loan applications can also be downloaded here. Completed applications should be returned to the center by 2 p.m. on May 31 or mailed to:

U.S. Small Business Administration
Processing and Disbursement Center
14925 Kingsport Road
Fort Worth, TX 76155.

For small businesses, small agricultural cooperatives, small business engaged in aquaculture and most private non-profit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

The filing deadline to return applications for physical property damage is July 23, 2018. The deadline to return economic injury applications is February 22, 2019.

Copyright 2018 WAVE 3 News. All rights reserved.

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