Loan applications climb as Wisconsin begins long-term recovery - WKOW 27: Madison, WI Breaking News, Weather and Sports

Loan applications climb as Wisconsin begins long-term recovery

MADISON (WKOW) -- Low-interest loans from the U.S. Small Business Administration's disaster loan program are an increasing component of Wisconsin disaster assistance. This shows that the state is beginning its long-term recovery from recent severe storms and flooding, emergency management officials said.

Loans to homeowners, renters and business owners from the SBA now make up about one fourth of the nearly $50 million in disaster assistance provided Wisconsin residents since June 14.

"SBA low interest loans are the major source of long-term federal funding for disaster recovery," said Federal Emergency Management Agency (FEMA) Federal Coordinating Officer Dolph Diemont. "We are pleased that Wisconsin residents are using this important source of aid to repair and rebuild homes and businesses and to replace home contents." As federal coordinating officer, Diemont heads up the U.S. government's side of disaster recovery efforts in Wisconsin.

 

Recovery summary as of close of business July 21:

  • $33.3 million in Individual Assistance has been distributed by FEMA for temporary housing and repair and replacement of storm-damaged housing;
  • $4.3 million has been provided in FEMA grants for other disaster needs such as transportation, medical and dental expenses, moving and storage fees, and replacement or repair of personal property;
  • $11.8 million has been approved by SBA in low-interest disaster loans to homeowners, renters and business owners;
  • 34,513 residents have registered for assistance in the 30 Wisconsin counties declared eligible for individual disaster aid;
  • 30,727 home inspections have been completed;
  • 7,625 individuals have visited Wisconsin Disaster Recovery Centers (DRCs), ten of which are still open; and
  • 6,626 residents have been advised by FEMA mitigation specialists on flood insurance, rebuilding to reduce future disaster damage, health and safety issues, and state and federal aid programs.

Wisconsin Emergency Management, FEMA and SBA officials urge Wisconsin individuals, families and business owners who live in disaster-declared counties and whose property was damaged by severe storms, tornadoes and ongoing flooding to apply for disaster-assistance grants and low-interest SBA loans.

 

Those who have registered and then incurred further damage or losses from later storms need not register again but should call the toll-free number and notify FEMA. Residents with storm and flood-related damage can register until Aug.13. Once an individual has registered for assistance, any additional damages to the property that are discovered, even past the application deadline, are still eligible for disaster assistance.

Residents can register or update their information by calling the toll-free number, 1-800-621-FEMA (3362) or TTY 1-800-462-7585 for those with speech or hearing impairment. Lines are open daily from 6 a.m. to 11 p.m. CDT. Residents also may register online 24 hours a day until the Aug.13 deadline.

Homeowners, renters and business owners can receive information about SBA disaster loans and obtain help with the application process by calling the SBA at 1-800-659-2955 or TTY 1-800-877-8339, by visiting the SBA Web site, or by talking to an SBA customer service representative at any DRC, Disaster Loan Outreach Center or Business Recovery Center.

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