Small Business Administration responds to flooding in eastern Ky.

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Weekday broadcast of WYMT Mountain News First at Four

PERRY COUNTY, Ky. (WYMT) – Small Business Administration (SBA) Associate Administrator Francisco Sanchez got a glimpse of the devastation left by flooding in Perry and Knott counties.

”[There] is actually a lot of resilience and a lot of pride in this community,” he said. “I saw a lot of challenges, and we’re going to talk about how we overcome them.”

Residents of Eastern Kentucky are dispersed, the SBA makes sure its disaster recovery and disaster recovery centers are accessible. A roundtable was held on Friday afternoon to address similar concerns from those affected.

“It’s essential so that we can get the information from the pitch like what is needed here,” he added. “What do we need to bring to the table and how can we adapt it in a way that helps the community recover.”

The SBA offers below-market interest rates to home and business owners during a disaster. These loans can be repaid over 30 years. Homeowners can request up to $200,000. Businesses can seek up to $2 million for physical damage and an additional $2 million for economic recovery.

“This is a flood event, and so we recognize that there is a challenge with paperwork, access to records, that says please come in anyway,” he said. -he declares.

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