SBA to provide assistance to homeowners, businesses affected by Tennessee storms

SBAThe Small Business Administration announced recently that it would provide financial assistance to businesses and homeowners affected by severe storms and flooding in Tennessee.

From Aug. 6 to Aug. 15, SBA representatives will be on-site at the Kingsport Chamber of Commerce. Assistance will be provided in the form of low-interest, long-term loans for losses not covered by insurance or other recoveries.

Any business or homeowner affected by last month’s storms can request assistance from the SBA online or in person.

“Loan proceeds may be used to replace or repair real property, machinery, equipment, fixtures, inventories and leasehold improvements,”Aundrea Wilcox, the executive director of the Kingsport Office of Small Business Development and Entrepreneurship, said. “This program can help you meet normal financial obligations that have become impossible or a strain due to the disaster. For a business, this could mean offsetting loss of sales. Another consideration is in regard to energy efficiency. During rebuilding may be the best time to implement overdue energy efficiency projects.”

Pathway Lending, an SBA micro-lender, will also be on-site at the Kingsport Chamber of Commerce on Aug. 13 and Aug. 14. The company makes loans and provides advisory services.

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