Getting your Trinity Audio player ready...

By Ayanna Eckblad

Those impacted by this year’s June and July flooding are encouraged to apply for financial assistance in the form of a loan from the U.S. Small Business Administration. Despite its name, the SBA helps many different people, including homeowners, renters and nonprofit organizations. 

They provide a multifaceted loan program that helps borrowers pay for business assets, property damage and economic injury. The goal of the loans is to return people to the place their home or business would be at if the disaster had not occurred.

The loans are typically low interest and have a one-year grace period. 

Carl Dombek, a public affairs specialist at the Office of Disaster Recovery and Resilience at the SBA, said the filing deadline for these loans is approaching, with the SBA disaster relief loan deadline Sept. 30. He added even when people have insurance or apply for help from the Federal Emergency Management Agency, there is often still a gap in what is covered and what people need to get themself or their business back to pre-disaster conditions. SBA loans are meant to fill that gap.

Recently the process for applying for disaster relief became streamlined, making it easier for people to get help if they need it.

“People don’t have to apply to SBA to prove to FEMA that they qualify for assistance,” Dombek said. “FEMA can go up to the full maximum grant without ever speaking to us.”

People interested in applying can do so at sba.gov/disaster. They can also apply for help from FEMA at disasterassistance.gov.

Those who need more help in applying are invited to stop by the new SBA office location at the Albert Lea Fire and Rescue station. It is one of eight physical offices in the SBA’s 19-county coverage area. These counties include Blue Earth, Cook, Cottonwood, Faribault, Freeborn, Goodhue, Itasca, Jackson, Lake, Le Sueur, Mower, Nicollet, Nobles, Rice, Rock, St. Louis, Steele, Waseca and Watonwan. The Albert Lea office is a combination of SBA, FEMA and other disaster recovery programs. Dombek describes this a good place for “one stop shopping” when it comes to disaster relief. People can go to the office to speak to someone about questions they have or to get help uploading applications or other documents.

“Don’t count yourself out,” Dombek said. He explained it’s better to apply and get your foot in the door than to assume you do not qualify and miss out.

Those who need questions answered can also call the organization’s toll free number, 1-800-659-2955.