Blunt, McCaskill Encourage Nixon to Seek Federal Resources for Ferguson

By KOLR10 News

Published 08/22 2014 05:10PM

Updated 08/22 2014 06:20PM

FERGUSON, Mo. – In a statement on Friday, Senators Clair McCaskill and Roy Blunt say they are encouraging Gov. Jay Nixon to explore the possibility of requesting federal economic resources for the community of Ferguson from the U.S. Small Business Administration (SBA).

In a letter to Nixon, McCaskill and Blunt suggest the possibility of low-interest disaster loans available through SBA. However, those resources would only become available if SBA issues an Economic Injury Declaration, or Physical Injury Declaration, both of which must be requested by Nixon.

The senators say some Ferguson businesses suffered significant physical damage and others suffered major economic losses on the back of days of unrest in the town. They say the resources will help those businesses get back on their feet.

According to the letter, the SBA will make an Economic Injury Declaration with at least five small businesses in a disaster area have suffered substantial economic harm.

A Physical Injury Declaration can be made when at least 25 small business suffer substantial uninsured losses to their property.

The senators say a request for both declarations may be needed for businesses in Ferguson.

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