SBA offers low-interest disaster loans across Kentucky for private citizens, businesses

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The U.S. Small Business Administration is offering low-interest disaster loans in response to the severe storms, flooding, landslides and mudslides that occurred from February 27th through March 14th.

Businesses of any and all sizes, Private Non-Profit organizations, Homeowners and Renters in the affected areas and with physical or economic damages stemming from this disaster, are encouraged to apply as they may be eligible for federal disaster assistance from the SBA.  

This disaster declaration covers Breathitt, Clay, Estill, Floyd, Johnson, Lee, Magoffin, Martin and Powell counties in Kentucky, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Bell, Clark, Jackson, Knott, Knox, Laurel, Lawrence, Leslie, Madison, Menifee, Montgomery, Morgan, Owsley, Perry, Pike and Wolfe in Kentucky.

According to the SBA, the first step is to register for disaster assistance with FEMA here. From there, applicants can then apply with the Small Business Administration here. You can also call (800) 659-2955 with any questions anytime between 8 a.m. and 8 p.m. seven days a week.

The filing deadline to return applications for physical property damage is June 22, 2021. The deadline to return economic injury applications is Jan. 24, 2022.