Contact: Cullen Werwie
Governor Walker today announced the U.S. Small Business Administration (SBA) approved his request for federal low-interest disaster loans for individuals and businesses impacted by the flooding that occurred last month in northwestern Wisconsin.
“June’s damaging flash flooding affected many residents and business owners,” Governor Walker said. “The low-interest loans from the SBA will provide critical assistance to homeowners and businesses trying to recover from the damage.”
The SBA declared Douglas County along with the contiguous counties of Bayfield, Burnett, Sawyer, and Washburn eligible for disaster assistance. In addition, Minnesota counties of Carlton, Pine, and Saint Louis were also listed.
Assistance in the form of low interest loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed homes. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Low-interest loans are also available to businesses, which sustained damage or economic loss from the flooding.
On June 19-20, severe storms brought 8-10 inches of rain causing flash flooding. The Douglas County Emergency Management, Wisconsin Emergency Management, and a representative from the Small Business Administration completed initial damage assessments and reported more than twenty-five residences and businesses sustained significant damage and uninsured losses in excess of forty percent.
To help assist disaster victims, tomorrow the SBA will open a Disaster Loan Outreach Center where individuals and businesses will be able to obtain information and loan applications. Information on the location and hours will be forthcoming. The SBA has set a deadline of September 25, 2012 to apply for assistance.