Brown, Top Ranking Small Business Administration Official Visit Moscow, Highlight Federal Resources For Southwest Ohioans Affected By March Tornadoes

Brown and SBA Deputy Administrator Johns Highlight Federal Assistance Available to Help Ohio Homeowners and Businesses Recover and Rebuild Following Severe Weather in Brown, Clermont, Clinton, Hamilton, and Warren Counties

MOSCOW, OH—U.S. Sen. Sherrod Brown (D-OH) and a top-ranking Small Business Administration (SBA) official visited Moscow today to outline federal assistance available for homeowners, renters, businesses of all sizes, and non-profit organizations recovering from recent severe weather on March 2. Brown and SBA Deputy Administrator Marie Johns highlighted disaster loans that are available for Brown, Clermont, Clinton, Hamilton, and Warren County residents.

“Southwest Ohio residents and small business owners can now access the resources to help recover from last month’s severe weather,” Brown said. “I will continue working to ensure adequate state and federal resources are available to rebuild our state. These funds will help small businesses and homeowners who have been affected by this month’s tornadoes get back on their feet.”

“In this time of need the SBA stands ready to assist the residents and business owners in and around Moscow, Ohio, with federal disaster loans,” said SBA Deputy Administrator Marie Johns.  “Resources are still available to those who qualify, so I encourage Ohioans affected by the March 2 disaster to seek further information about how SBA can help put businesses and the community back on their feet.” 

Last month, the SBA announced Federal disaster assistance available to residents and businesses in Southwest Ohio who were disrupted by the severe weather. Affected Ohioans in Clermont, Brown, Clinton, Hamilton, and Warren Counties who suffered property losses have until May 14 to apply for low-interest disaster loans to rebuild their homes and businesses.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for loans up to $40,000 to repair or replace personal property damaged during the disaster.  Interest rates are as low as 1.875 percent.

Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, equipment, inventory, and other business assets.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private, non-profit organizations of all sizes that suffered financial losses as a direct result of this disaster.   According to the SBA, small businesses may borrow up to $2 million, with a three percent interest rate for non-profit organizations, four percent for small businesses.  The application deadline is December 13, 2012. Terms of up to 30 years are available for all SBA disaster loans. 

Individuals and businesses may obtain information on loan applications by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for people with speech or hearing disabilities), Monday through Friday from 8 a.m. to 6 p.m. ET or by sending an e-mail to  SBA’s customer service representatives will be available at the Disaster Loan Outreach Center to answer questions about the disaster loan program, explain the process, distribute and help individuals complete their applications. Business loan applications can also be downloaded from the SBA website at Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.  

Meanwhile, short-term needs assistance from the State of Ohio is available to Clermont County residents affected by the tornadoes and severe storms. To learn more, contact the Clermont County Department of Jobs and Family Services at 513-732-6006.   


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