The filing deadline to return applications for physical property damage is Aug. 20, 2019. The deadline to return economic injury applications is March 23, 2020.
FULL PRESS RELEASE:
DISASTER LOANS NOW AVAILABLE TO HELP FLOOD-IMPACTED BUSINESSES, RESIDENTS IN 19 TN COUNTIES
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee announced today the U.S. Small Business Administration (SBA) will make its disaster loan program available in five counties recovering from the severe storms and flooding from Feb. 6 through Feb. 24, 2019.
“We are committed to pursuing every assistance option available to help Tennesseans put their lives and businesses back together from the floods earlier this year,” Gov. Lee said.
The SBA declaration covers the following Tennessee counties: Decatur, Hardin, Humphreys, Perry, and Sevier, and the adjacent counties of Benton, Blount, Carroll, Chester, Cocke, Dickson, Henderson, Hickman, Houston, Jefferson, Knox, Lewis, McNairy, and Wayne.
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.
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.
Interest rates are as low as 4 percent for businesses, 2.75 percent for nonprofit organizations, and 2.063 percent for homeowners and renters with terms up to 30 years.
Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.
SBA will also open seven Disaster Loan Outreach Centers in Tennessee and make representatives available to help individuals complete their applications and to answer questions about the loan program.
The Disaster Loan Outreach Centers will open Tuesday, June 25, operating until Tuesday, July 2, in the following communities:
Decatur County Blount County
Decatur County Library Department of Development Services
20 W. Market St. 1221 McArthur Road
Decaturville, TN 38329 Maryville, TN 37804
Opening at 11 a.m. on June 25 Opening at 10 a.m. on June 25
Hours: Weekdays, 9 a.m. to 6 p.m. Hours: Weekdays, 8 a.m. to 4:30 p.m.
Saturday, June 29, 10 a.m. to 2 p.m. Saturday, June 29, 8 a.m. to noon
Hardin County Humphreys County
Hardin County Fire Dept. City of Waverly Fire Dept.
90 Walnut St. 107 E. Main St.
Savannah, TN 38372 Waverly, TN 37185
Opening at 11 a.m. on June 25 Opening at 11 a.m. on June 25
Hours: Weekdays, 9 a.m. to 6 p.m. Hours: Weekdays, 9 a.m. to 6 p.m.
Saturday, June 29, 10 a.m. to 2 p.m. Saturday, June 29, 10 a.m. to 2 p.m.
Knox County Perry County
Central High School Tennessee Career Center
5321 Jacksboro Pike 113 Factory St.
Knoxville, TN 37918 Lindon, TN 37096
Opening at 11 a.m. on June 25 Opening at 11 a.m. on June 25
Hours: Weekdays, 9 a.m. to 6 p.m. Hours: Weekdays, 9 a.m. to 6 p.m.
Saturday, June 29 10 a.m. to 2 p.m. Saturday, June 29, 10 a.m. to 2 p.m.
Sevier County
King Family Library
408 High St.
Sevierville, TN 37862
Opening at 11 a.m. on June 25
Hours: 9 a.m. to 6 p.m.
Saturday, June 29, 10 a.m. to 2 p.m.