Business enterprises and residents alike across Michigan’s Great Southwest who were seriously impacted by last month’s flooding of the St. Joseph River will be keeping their fingers crossed that Gov. Rick Snyder’s latest move will hit pay dirt for them.
Gov. Snyder today requested the U.S. Small Business Administration (SBA) conduct damage assessments for eight Lower Peninsula counties to pave the way for a physical and economic disaster declaration. This would provide additional financial assistance to Michiganders recovering from the recent floods.
If approved, the SBA disaster assistance program would make low-interest loans available to eligible residents and businesses affected by heavy rainfall and snow melt from February 19th-21st that resulted in widespread flooding. In addition to Arenac, Barry, Berrien, Ingham, Kalamazoo, Kent, Newaygo and St. Joseph counties, the declaration would cover the neighboring counties of Allegan, Bay, Branch, Calhoun, Cass, Clinton, Eaton, Gladwin, Ionia, Iosco, Jackson, Lake, Livingston, Mason, Mecosta, Montcalm, Muskegon, Oceana, Ogemaw, Osceola, Ottawa, Shiawassee, Van Buren and Washtenaw.
Commenting on his request of the EPA, Snyder says, “Our communities are continuing to recover from the flooding that impacted our state last month.” He adds, “We’re hopeful the Small Business Administration will honor our request and make low-interest loans available to residents as they work to recover.”
The SBA disaster assistance program provides low-interest loans for homeowners, renters, businesses of all sizes and private, nonprofit organizations to repair or replace real estate, personal property, machinery and equipment, inventory, and business assets that were damaged or destroyed. The SBA tailors the repayment of each disaster loan to the borrower’s financial capability.
If the declaration is approved, temporary Disaster Loan Outreach Centers may be established in the impacted areas for one-on-one assistance. Loan applications also will be made available online or by mail.
Based on information provided by the Michigan State Police, Emergency Management and Homeland Security Division (MSP/EMHSD), state officials requested representatives of the SBA to conduct a preliminary damage assessment of the affected areas to document physical property damage to homes and businesses that sustained at least 40 percent uninsured losses.
Snyder declared a state of disaster on just yesterday for 17 counties and two cities after heavy rainfall and snow melt last month that resulted in widespread flooding damage, making state aid and financial assistance available to communities in the disaster area.
