LANSING, Mich. – Gov. Rick Snyder today announced that the U.S. Small Business Administration (SBA) has approved his request for a physical disaster declaration for Newaygo and Osceola counties, paving the way for financial assistance for western Michigan residents and business owners impacted by severe storms and flooding.
The SBA disaster assistance program will make low-interest loans available to eligible residents and businesses affected by the severe storms and flooding that occurred in April. In addition to Newaygo and Osceola counties, the declaration covers the neighboring counties of Clare, Kent, Lake, Mecosta, Missaukee, Montcalm, Muskegon, Oceana and Wexford.
“I want to thank the SBA for making disaster assistance available to our citizens,” Snyder said. “Michigan residents and businesses affected by the severe storms and flooding have a long road ahead. These loans will bring some relief to those working to recover and rebuild.”
The SBA disaster assistance program provides low-interest loans for homeowners, renters, businesses of all sizes and private, nonprofit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets damaged or destroyed. The SBA tailors the repayment of each disaster loan to the borrower’s financial capability.
The SBA will establish temporary Disaster Loan Outreach Centers in the affected area for one-on-one assistance. Loan applications will also be made available online or by mail.
Based on information provided by the Michigan State Police, Emergency Management and Homeland Security Division, state officials requested representatives of the SBA conduct a preliminary damage assessment of the affected areas to document physical property damage to homes and businesses that sustained at least 40 percent uninsured losses. This assessment was conducted from June 5-7.
Additional information about the SBA disaster assistance program is available at www.sba.gov.
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