LANSING, Mich. — Michigan businesses and residents affected by the severe storms and flooding from can apply for small interest disaster loans, U.S. Small Business Administration (SBA) Acting Administrator Christopher Pilkerton said.
The loans became available after a letter was sent from Gov. Gretchen Whitmer on Sept. 16 requesting a disaster declaration by the SBA.
The SBA said the declaration covers Wayne County and the adjacent counties of Macomb, Monore, Oakland
and Washtenaw counties in Michigan.
“The SBA is strongly committed to providing the people of Michigan with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” said Pilkerton. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit 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, according to the SBA.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit 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, according to the SBA.
“Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property,” said Kem Fleming, center director of SBA’s Field Operations Center East in Atlanta.
The filing deadline to return applications for physical property damage is Nov. 25, 2019. The deadline to return economic injury applications is June 25, 2020.
Applicants can apply online by using the Electric Loan Application by clicking here.
Businesses and individuals may also obtain information and loan applications by calling the SBA's customer service at 1-800-659-2955 or 1-800-877-8339 for the deaf and hard of hearing.
You can also send an email to disastercustomerservice@sba.gov.
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