Feds offer low-interest SBA loans to flood victims

The U.S. Small Business Administration has announced it is making low-interest disaster loans available to help flood victims – including homeowners – make repairs and replace damaged property, WDIO reports. FEMA has denied Minnesota's request for individual disaster aid, although the state is appealing. The SBA loans create another option for people, officials say.

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Jul 31, 2012

The U.S. Small Business Administration has announced it is making low-interest disaster loans available to help flood victims – including homeowners – make repairs and replace damaged property, WDIO reports. FEMA has denied Minnesota's request for individual disaster aid, although the state is appealing. The SBA loans create another option for people, officials say.

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A request for federal individual assistance for Northeastern Minnesota has been denied. W. Craig Engate, administrator of the Federal Emergency Management Agency, told Gov. Mark Dayton in a letter that damage to dwellings from the flooding that began June 19 “was not of such severity and magnitude as to warrant the implementation of individual assistance.” The state has 30 days to appeal the decision. Gov. Mark Dayton "is very disappointed."

Governor Dayton ordered state officials to begin preparing an appeal after learning that FEMA has denied federal aid to individual victims of last month's flooding. The agency is providing money for 13 counties to rebuild roads and make other repairs. But money for individual homeowners and businesses was denied.

Following the denial of appeal for aid from the Federal Emergency Management Agency to repair home and business with flood and other June storm damage, Gov. Mark Dayton has moved on to asking for loans from the Small Business Administration. Dayton is seeking loans to repair damage done in St. Louis, Carlton and Pine and adjoining counties, and the Fond du Lac Band of Lake Superior Chippewa.

It's been four months since flooding devastated the streets of Duluth, and now winter is closing in fast. Street crews are racing to get as much work done as they can before snow and ice burrow into holes and makes them even bigger, forcing repair costs higher, WDIO reports.

The Federal Emergency Management Agency denied an appeal Friday from Gov. Mark Dayton for aid for individuals and businesses affected by floods in northeastern Minnesota in June. Dayton said he was "disappointed" by FEMA's ruling and that he'll ask the state legislature for an estimated $7.4 million in assistance in an upcoming special session.

The disaster declaration for 13 Minnesota counties and three tribal nations devastated by flooding in northeastern Minnesota last month was approved Friday by the federal government. The $108 million in aid only covers damage to public infrastructure.

Gov. Mark Dayton sent a letter to the Federal Emergency Management Agency Wednesday appealing the government's decision to deny financial assistance to individuals in the wake of the northeastern Minnesota floods in June. Dayton wrote in the letter to FEMA that the rain and floods in the area caused "one of the worst natural disasters in Minnesota’s history."

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