FAIRMONT — The U.S. Small Business Administration is helping West Virginians through low-interest federal disaster loans.
President George W. Bush recently made a major disaster declaration for West Virginia. The proclamation applies to 12 counties in the state that experienced severe storms, tornadoes, flooding, mudslides and landslides from June 3 to 7 of this year. Barbour, Clay, Doddridge, Gilmer, Harrison, Jackson, Jefferson, Marion, Taylor, Tucker, Tyler and Wetzel counties are covered under the disaster declaration.
Anyone in those counties who had damages as a result of heavy conditions during that time frame has the chance to apply for financial assistance from the SBA, said Matt Young, SBA public information officer. The disaster loans are available for physical damage to homes, personal property or businesses and economic injury.
He said the SBA offers home loans for homeowners and renters, and business loans for businesses of any size and nonprofit organizations. Economic injury disaster loans are strictly for small businesses.
Homeowners are eligible to borrow up to $200,000 to repair or replace their primary residence. As much as $40,000 is available for homeowners and renters to repair or replace personal property. Businesses can get a maximum of $2 million for physical damages or economic injury, Young said.
These loans offer a low interest rate of 2.687 percent for homeowners and renters and 4 percent for businesses. The terms of the loans can go up to 30 years.
“With those low rates and long terms, we can make these loans affordable for people to be able to make their repairs and recover from the damages they incurred,” Young said.
He said persons must first call the Federal Emergency Management Agency toll free at 1-800-621-FEMA (3362) to register for disaster assistance, which includes FEMA’s programs and the SBA’s low-interest loans.
“If anybody has received a disaster loan application from SBA, we want to urge them to complete and return that application so that they don’t stop their disaster assistance,” Young said. “In order to qualify for full assistance, completing and returning the SBA loan application is essential.”
If the SBA is not able to approve someone for a loan, the person is referred back to FEMA for any possible grant assistance it can provide, he said.
This week, FEMA has established Mobile Disaster Recovery Centers in Marion and Doddridge counties. Until Saturday, the Fairmont center — stationed at the Marion County Police Reserve on State Street — will be open every day from 10 a.m. to 7 p.m. The fixed site at Big Elm Elementary School in Shinnston will remain in operation 10 a.m. to 7 p.m. Monday through Saturday until July 17.
“The purpose is to answer any questions that an applicant might have about the status of his or her application,” Len DeCarlo, spokesman for the FEMA News Desk in Bridgeport, said. “If they have some questions or need to update some information or need help completing their SBA loan application, that’s the place to go get help.”
He said the state identifies the locations and FEMA brings in the materials to set up the Disaster Recovery Centers. The SBA also has a presence at the sites.
Contact the SBA Customer Service Center at 1-800-659-2955 or visit www.sba.gov/services/disasterassistance.
E-mail Jessica Legge at jlegge@timeswv.com.
In Today's TWV
July 10, 2008
Low-interest federal disaster loans available
- In Today's TWV
-
-
US kills Osama bin Laden decade after 9/11 attacks
Osama bin Laden, the face of global terrorism and architect of the Sept. 11, 2001, attacks, was killed in a firefight with elite American forces Monday, then quickly buried at sea in a stunning finale to a furtive decade on the run.
-
Construction around FSU
Construction matters were on the minds of the Fairmont State Board of Governors Thursday as they discussed projects to widen Locust Avenue and the continuing renovation of the historic Kennedy Barn.
First, a project to widen Locust Avenue to three lanes has been a priority for the state for several years. -
Goal: Redevelop site of former black Elks
City officials are hoping to solicit a buyer to redevelop the former site of the former black Elks building at the corner of Everest Drive and Cleveland Avenue.
Following the structure’s emergency demolition last weekend, city manager Jim Snider said the city is hoping someone will come forward to develop the site and recoup the city’s $72,000 demolition cost. -
Investigation continues into suspicious container, plastic jug that were blown up
Fairmont police detectives will continue their investigation into a suspicious can and jug that were blown up late Friday night by a State Police bomb squad, police said.
No one was injured, but the incident forced drivers to detour around Fairmont Avenue from Seventh to 10th streets while the area was secured and the containers were safely destroyed. -
Years of planning, work lead to new Baxter fire hall
In 1968, the Baxter Volunteer Fire Department opened its doors for the first time.
The department had its humble beginnings in a small pole building near the ball field. Over the years, the firefighters made do with the small building, adding on as they could, according to Destry Jones, Baxter fire chief. -
AmberView participation rising
Fairview Middle School has a higher percentage of students enrolled in AmberView than any other school in the state, officials said Friday.
AmberView is an innovative program, developed in West Virginia, that assists law enforcement by quickly issuing an up-to-date digital picture of a missing or abducted child. AmberView officials have seen participation rise dramatically in the last year. -
Police investigate, detonate suspected bomb
West Side’s main thoroughfare was blocked for hours while police investigated and then detonated a suspected bomb Friday night.
Fairmont City Police responded to a report of a suspicious package Friday after a 911 call from a passerby. -
Student housing at FSU booming
While enrollment may be down at Fairmont State this year, student housing is booming.
The university’s board of governors received preliminary enrollment numbers at its meeting Thursday. -
Jay to speak at convention
U.S. Sen. Jay Rockefeller, an early supporter of Sen. Barack Obama, will be a speaker at the Democratic National Convention in Denver later this month, a campaign aide said.
Rockefeller, 71, who is seeking a fifth-straight term in the Senate, will speak on Wednesday, Aug. 27, said Jessica Tice, his campaign press secretary. -
A strong ‘heartbeat’
“The chamber is the heartbeat of every community,” Gov. Joe Manchin told a crowd of approximately 375 people during the Marion County Chamber of Commerce’s 55th Annual Dinner.
Members of the business community gathered at Fairmont State University’s Falcon Center Thursday night for the event, which also serves as the chamber’s annual meeting. - More In Today's TWV Headlines
-
US kills Osama bin Laden decade after 9/11 attacks
