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The U.S. Small BusinessAdministration has approved issuing low-interest loans to Alaska businesses and residents affected by September’s storms and flooding in the state, following a state request for assistance.
The loans, announced by SBA Administrator Karen G. Mills Tuesday, covers losses related to the weather conditions that pounded the state from Sept. 15 to Sept. 30. The group’s disaster declaration makes assistance available in the Municipality of Anchorage, the Denali, Kenai Peninsula, Kodiak Island, Lake and Peninsula and Mat-Su boroughs, and regional education attendance areas in Chugach, Copper River, Delta/Greely and Iditarod.
Loans of up to $40,000 are available for the replacement of homeowners’ and renters’ damaged or destroyed personal property, while homeowners can borrow up to $200,000 to repair or replace damaged or destroyed real estate.
Businesses can borrow up to $2 million to repair or replace damaged or destroyed business assets, including but not limited to real estate, machinery, equipment and inventory. In addition, special Economic Interest Disaster Loans are available to most private nonprofit groups, as well as small businesses and agricultural cooperatives, to help them meet capital needs even if they didn’t suffer property damage during the storms and flooding. Property-damage applications must be filed by Feb. 18, 2013, while economic-damage applications must be filed by Sept. 20, 2013.
“SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future,” officials wrote in a statement announcing the loans.
Interest rates for the loans are determined on a case-by-case basis, but can be as low as 1.688 percent for homeowners and renters, 3 percent for private nonprofit groups and 4 percent for businesses. Terms of the loans are similarly flexible, but can extend as long as 30 years.
President Obama issued a federal disaster declaration for the incidents in November, making funds available to governments and some non-profit organizations, but earlier this month the Federal Emergency Management Agency denied a State of Alaska request for individual assistance to affected residents. State funds released by Gov. Sean Parnell’s Sept. 21 state disaster declaration are still available to residents who applied for individual assistance before a Nov. 20 deadline to do so.
In response to FEMA’s denial of the individual-assistance request, the state’s Division of Homeland Security and Emergency Management had said it would next turn to the SBA to seek assistance.
SBA representatives will be present in January at six disaster loan outreach centers in Anchor Point, Soldotna, Bear Creek, Willow, Wasilla and Talkeetna to answer questions and help people apply. No appointments are necessary. The centers’ locations and hours, as well as detailed contact information provided by the SBA, are as follows:
Anchor Point:
Anchor Point Fire Station, 72440 Milo Fritz Rd.
Jan. 4-6, 9 a.m. to 6 p.m.
Soldotna:
Kenai Peninsula Borough Emergency Response Center, 253 Wilson Ln.
Jan. 7, 1 p.m. to 6 p.m.; Jan. 8-9, 9 a.m. to 6 p.m.
Bear Creek:
Bear Creek Fire Station, 13105 Seward Hwy.
Jan. 10, 1 p.m. to 6 p.m.; Jan. 11-12, 9 a.m. to 6 p.m.
Willow:
Willow Community Center, Mile 69 Parks Hwy.
Jan. 4-6, 9 a.m. to 6 p.m.
Wasilla:
Cottonwood Public Safety Building, Training Room 2, 680 N. Seward Meridian Pkwy.
Jan. 7-9, 9 a.m. to 6 p.m.
Talkeetna:
USSI, Inc.
16463 Helena Ave.
Jan. 10, 1 p.m. to 6 p.m.; Jan. 11-12, 9 a.m. to 6 p.m.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955, e-mailing disastercustomerservice@sba.gov or visiting SBA’s Web site at http://www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
The filing deadline to return applications for property damage is February 18, 2013. The deadline to return economic injury applications is September 18, 2013.
Contact Chris Klint