After tornadoes swept through parts of Tennessee and Kentucky on December 9 communities were left picking up the pieces and working toward recovery, to aid those efforts the United Stats Small Business Administration is offering economic injury disaster loans to those impacted.
Todd County Emergency Management shared that businesses who have been economically impacted or have damaged property as the result of a natural disaster and are located in a declared disaster zone are eligible for a disaster loan.
The tornadoes on December 9 resulting in disaster declarations for 23 counties along middle Tennessee and six counties in south west Kentucky.
According to Emergency Management and economic injury includes, businesses that have had decreased revenues, a lack of utilities, are not able to reached because of road closures or have suffered direct physical damage as the result of a natural disaster.
The maximum loan amount available is $2 million. During the first year of the loan no interest is accrued and the first loan payment is not due until one year after the loan has been received.
The deadline to apply for the loan is September 13, 2024 and more information and registration can be found at sba.gov.
