A press release from Congressman Randy Hultgren:
Hultgren Hails Federal Relief for Individuals and Small Businesses Affected by Severe Flooding
Flooding in a Port Barrington home.
Washington, DC — U.S. Representative Randy Hultgren (IL-14) today hailed the decision by the U.S. Small Business Administration (SBA) to issue a Disaster Declaration for Boone, Lake and McHenry counties, and adjacent counties in Wisconsin, which will allow residents and businesses in the region severely impacted by flash floods and flooding on July 11 to apply for low-interest SBA disaster loans.
In addition, the SBA’s Economic Injury Disaster Loan Program (EIDL) can provide up to $2 million of financial assistance to small businesses or private, non-profit organizations that suffer substantial economic injury as a result of the declared disaster, regardless of whether the applicant sustained physical damage.
“Illinois residents and businesses have suffered significant loss following the severe storms and flooding in July,” said Rep. Hultgren.
Humor in the face of destruction in Port Barrington. “This neighborhood protected by attack carp! Enter at your own risk.”
“I am pleased at the SBA’s decision and especially encourage 14th District residents who were affected to apply for loans to help rebuild.”
Last week Rep. Hultgren sent a letter to FEMA Administrator Long urging him to assist local efforts to conduct damage assessments to help determine how much federal assistance might be available for individuals and small businesses affected by the flooding. Rep. Hultgren has visited the affected areas and worked with local and state officials to make sure everyone is safe and mitigate flood damage.
The following information is provided by the SBA:
SBA Customer Service Representatives will be at the Disaster Loan Outreach Centers to issue loan applications, answer questions and help individuals complete their applications.
“Businesses and 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,” said SBA Wisconsin District Director Eric Ness.
For small businesses, small agricultural cooperatives, small aquaculture businesses and private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
“Loans up to $200,000 are available to homeowners to repair or replace disaster 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,” said Frank Skaggs, director of SBA’s Disaster Field Operations Center East in Atlanta.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may now include a safe room or storm shelter to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 3.215 percent for businesses, 2.5 percent for nonprofit organizations, and 1.938 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.
Survivors may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.
Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be returned to the centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to submit applications for physical property damage is Oct. 17, 2017. The deadline for economic injury applications is May 16, 2018.
Leave big government out of my beautiful, rural, McHenry county! I was kidding; bring in some of those federal tax dollars that we need. Tic, tock, tic, tock…
What a waste of my tax dollars this was a man made disaster in that those people who built in the river bottoms should have known they would be flooded out at some point.we should save our FEMA money for things like tornados, earthquakes real natural disasters not the man made ones.
Sunshine blogger, would you put your keen journalistic knowledge and skills to inquire about the availability of FEMA relief funds to assist in the recovery efforts from the disaster caused to McHenry county by this sunshine blog? Next, some prodigious research about FEMA aimed to gain some recognition and praising from fellow members of this sunshine blog. “FEMA’s mission is to support our citizens and first responders to ensure that as a nation we work together to build, sustain and improve our capability to prepare for, protect against, respond to, recover from and mitigate all hazards. For 38 years, FEMA’s mission remains: to lead America to prepare for, prevent, respond to and recover from disasters with a vision of “A Nation Prepared. On April 1, 1979, President Jimmy Carter signed the executive order that created the Federal Emergency Management Agency (FEMA). From day one, FEMA has remained committed to protecting and serving the American people. That commitment to the people we serve and the belief in our survivor centric mission will never change. The Federal Emergency Management Agency coordinates the federal government’s role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror. FEMA can trace its beginnings to the Congressional Act of 1803. This act, generally considered the first piece of disaster legislation, provided assistance to a New Hampshire town following an extensive fire. In the century that followed, ad hoc legislation was passed more than 100 times in response to hurricanes, earthquakes, floods and other natural disasters. By the 1930s, when the federal approach to disaster-related events became popular, the Reconstruction Finance Corporation was given authority to make disaster loans for repair and reconstruction of certain public facilities following an earthquake, and later, other types of disasters. In 1934, the Bureau of Public Roads was given authority to provide funding for highways and bridges damaged by natural disasters. The Flood Control Act of 1965, which gave the U.S. Army Corps of Engineers greater authority to implement flood control projects, was also passed. This piecemeal approach to disaster assistance was problematic. Accordingly, it prompted legislation to require greater cooperation between federal agencies and authorized the President to coordinate these activities. The 1960s and early 1970s brought massive disasters requiring major federal response and recovery operations by the Federal Disaster Assistance Administration, established within the Department of Housing and Urban Development (HUD). These events served to focus attention on the issue of natural disasters and brought about increased legislation. In 1968, the National Flood Insurance Act created the Federal Insurance Administration and made flood insurance available for the first time to homeowners. The Flood Disaster Protection Act of 1973 made the purchase of flood insurance mandatory for the protection of property located in Special Flood Hazard Areas. In the year following, President Nixon passed into law the Disaster Relief Act of 1974, firmly establishing the process of Presidential disaster declarations.
However, emergency and disaster activities were still fragmented. When hazards associated with nuclear power plants and the transportation of hazardous substances were added to natural disasters, more than 100 federal agencies were involved in some aspect of disasters, hazards and emergencies. Many parallel programs and policies existed at the state and local level, simplifying the complexity of federal disaster relief efforts. The National Governor’s Association sought to decrease the many agencies with which state and local governments were forced work. They asked President Carter to centralize federal emergency functions”. Thank you very much. Tic, tock, tic, tock…
More free prodigious research for my compassionate conservative brothers and sisters. “The Federal Emergency Management Agency is an agency of the United States Department of Homeland Security, initially created by Presidential Reorganization Plan No. 3 of 1978 and implemented by two Executive Orders on April 1, 1979. James Earl Carter, Jr. was president at the time. President Carter was the 39th president of the United States. His administration lasted from January 20, 1977 until January 20, 1981. He is still alive. He was born in October 1, 1924. He is a Democrat. Therefore, he must be a bad person.” Tic, tock, tic, tock…
Hell compared to BO, Jimmy is looking marvelous.