SBA disaster loans available to Missourians impacted by severe storms July 19 and 20

Regional News

FILE – In this June 15, 2018, file photo, cash is fanned out from a wallet in North Andover, Mass. (AP Photo/Elise Amendola, File)

(Missourinet)– From the SBA:

Low-interest federal disaster loans are available to businesses of all sizes, most private nonprofit organizations, homeowners, and renters whose property was damaged or destroyed by severe storms, flooding and flash flooding that occurred July 19-20, 2020.

The disaster declaration makes SBA assistance available in Andrew, Boone, Buchanan, Callaway, Clinton, Cole, DeKalb, Miller, Moniteau, Osage and Platte counties in Missouri.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans for working capital needs caused by the disaster, regardless of whether the business suffered any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

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