Disaster Recovery News

In response to the recent tornadoes and floods, the U.S. Small Business Administration (SBA) is offering U.S. Department of Treasury disaster loans to small business owners affected by the natural disasters. Financial assistance is available to those who are located in an area President Obama has issued a natural disaster declaration.

SBA loans differ from the financial assistance FEMA offers. While FEMA offers financial assistance to residents, which they do not have to repay, the SBA only offers loans that borrowers must repay. These loans, however, are offered with low interest rates. Renters, homeowners and non-profit organizations can also apply for loans through the SBA. Homeowners can borrow up to $200,000, while business owners can borrow a maximum of $2,000,000.

The purpose of the SBA disaster loans is to help ensure business continuity by assisting business owners with the costs associated with flood remediation, the process of restoring wet documents and building repairs. To receive a disaster loan, you must first file a claim with FEMA, which you can do online at www.fema.gov or by calling 1-800-621-FEMA (3362). After filing a claim, FEMA will mail you a recovery package that contains an SBA application.

When you apply for an SBA loan, the lender does not consider your credit score. Instead, the lender bases its decision on your circumstances, need and ability to repay the loan amount requested. When filing a disaster claim, you will need you Social Security number, the address of the building in need of storm damage restoration, your current address, a current telephone number, insurance information, information regarding your income and a description of your losses.

Learn more about recovering from a flood.

[Image: U.S. Small Business Administration]

Last week parts of Oregon had declared a state of emergency because of heavier-than-expected snowfall. This week parts of the state are dealing with the aftermath now that the temperatures have warmed up and turned the snowfall into rain.

The rivers are at flood-stage in the coastal areas and geologists are warning there may be landslides due to the weight of the melting snow. The Oregonian reports: “On Thursday, rain was falling at the rate of one-half inch an hour (in Tillamook County), and a second storm was expected to push through later in the evening…The Oregon Department of Transportation reported that water up to 16 inches deep closed Oregon 22 (Three Rivers Highway) about four miles west of the junction with Oregon 18 (Salmon River Highway)…The county opened a shelter at the Tillamook County Fairgrounds and activated its reverse 9-1-1 system to warn residents and businesses in flood areas to evacuate.”

Clackamas County in the Portland-Metro area has also declared a state of emergency. Mobile home parks and various neighborhoods have been evacuated and authorities have closed some roads. According to The Oregonian: “(Clackamas) County has closed about 60 roads. That includes the following due to landslides: U.S. 26, west of Sleepy Hollow; Oregon 224, near Tong Road; Welches Road, about a half mile north of Salmon River and Clackamas River Drive, between house numbers 13405 and 15077.” Residents are encouraged to stay home and not travel unnecessarily. One home has already been severely damaged from a landslide that injured five people.

Find relief information about the Oregon Trail Chapter of the American Red Cross here.

Check out the following links for information about flood restoration:

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  • Recovering from water damage
  • Recovering documents after a storm
  • Business continuity after a storm
  • Mold Prevention