A Disaster Outreach Center will be open to residents on Monday, June 25 through Saturday, June 30.
FREDERICK, MD. (LG) The U.S. Small Business Administration will provide disaster assistance in the form of low-interest loans to those affected by heavy rains and flooding in Frederick County last month.
“The Small Business Administration came and did an evaluation to see if we met the threshold for assistance from them, and we did meet that threshold,” said Dennis Dudley, Director of Frederick County’s Department of Emergency Preparedness.
The flooding that began on May 15, 2018 and lasted for several days affected 507 residential properties and 34 businesses and non profit organizations. “Residential structural damage was over $12.5 million, business and non profit damage was approximately $3.1 million, and residential property loss damage estimate was about $3.4 million. Business non profit property loss, as in in inventory and equipment was about $1.5 million.” The total loss equals to approximately $20.6 million, continued Dudley.
These loans can be used to repair or replace real estate and personal property, and if your loan is approved, you may be eligible for additional funding towards the cost of improvements to protect your property against future damages from a similar disaster.
A Disaster Loan Outreach Center will operate from 9 a.m. to 6 p.m. on Monday, June 25, through Friday, June 29, and from 10 a.m. to 2 p.m. on Saturday, June 30, at the Public Safety Training Facility, located at 5370 Public Safety Place, in Frederick. SBA staff will be on site to issue loan applications and answer questions about the program.
“You don’t have to come to the Training Facility. You can apply on line at https://disasterloan.sba.gov. You can also call the hotline at 1-888-756-7836 for information and referrals to programs that may be able to provide additional assistance.”