SBA loans available for South MS flood victims

SBA loans available for South MS flood victims

SOUTH MISSISSIPPI (WLOX) - Residents, businesses and nonprofit organizations in South Mississippi that were affected by flash flooding on April 28 can now apply for low interest recovery loans through the U.S. Small Business Administration.

The SBA approved Gov. Phil Bryant's request for disaster relief in Harrison and Walthall counties to help out where torrential downpours caused widespread flooding issues for many communities.

The declaration also covers Hancock, Jackson, Pearl River and Stone counties.

Floodwaters caused by the April storm damaged 295 homes, 60 apartments and 29 businesses in Harrison County alone.

Loans up to $200,000 will be available to homeowners to repair or replace real estate, and loans up to $40,000 will be available to repair or replace personal property.

Loans for business and nonprofits will cover real estate, machinery, equipment and inventory damaged in the floods.

Last week, South Mississippi flood victims found out they would not be getting any federal funding from FEMA to repair flood damage. The agency determined damage totals did not meet the requirements for a disaster designation.

FEMA assistance denied for April 28 flood victims

Applicants can apply for SBA loans online at https://disasterloan.sba.gov/ela, by calling 1-800-659-2955 or by emailing disastercustomerservice@sba.gov.

You can also apply in person at the Disaster Loan Outreach Center in Harrison County once it is established next week. The location of the outreach center has not been announced.

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