As Kentuckians continue efforts to recover from this year’s repeated bouts of severe weather, the U.S. Small Business Administration (SBA) is encouraging disaster loan recipients in Kentucky to apply for additional funds to protect their homes and businesses from future storms.
Loan recipients have up to two years from their initial loan approval date to request an increase of up to 20 percent of their verified physical damages to cover the cost of improvements. Eligible mitigation projects may include regrading landscaping for better drainage, installing a French drain or sump pump, and strengthening structures to protect against high wind damage.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s physical damage loans.”
You can learn more about mitigation options by going to sba.gov/mitigation.
To apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Note that this does not apply to damage and losses experienced from the record flooding and severe weather in April, as state officials have not heard back from Washington yet on Gov. Andy Beshear’s request for a major disaster declaration by President Donald Trump.
As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
