Drew Dixon
Small businesses, nonprofits and residents in Pinellas, Hillsborough and Pasco counties who were impacted by severe storms and a tornado that touched down June 25 can now get assistance from the federal government.
FloridaCommerce, the state’s business development bureau, announced that the U.S. Small Business Administration (SBA) is offering physical disaster loans and Economic Injury Disaster Loans for replacement or repair of damaged or destroyed real estate, machinery, equipment and other business assets. Homeowners and renters are also eligible for personal property loans.
Multiple media outlets reported on the storms on June 25, detailing a tornado that touched down in Largo before plowing through territory for more than 2 miles. There were no fatalities reported, but damage to property and structures was severe. Heavy winds and rains caused additional damage outside of the path of the twister.
The SBA initiated the loan program after a request from Gov. Ron DeSantis on July 7.
Private nonprofits and businesses can apply for disaster loans up to $2 million. Homeowners and renters can apply for home and personal property loans up to $100,000, as well as $500,000 to replace or repair primary residences.
“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, Associate Administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”
SBA officials are now onsite at the Disaster Loan Outreach Center to assist victims in the application process until July 28 at the Pinellas County Largo Public Library, 120 Central Park Drive in Largo. Officials are available from 9 a.m. to 6 p.m. for those seeking assistance Mondays through Wednesdays; 10 a.m. to 6 p.m. on Thursday and Friday; and 10 a.m. to 2 p.m. on Saturdays. The facility is closed Sunday.
Victims can apply for the SBA assistance online or call SBA’s customer service phone number at (800) 659-2955.
SBA officials say victims of the storm should not wait until insurance coverage and settlements are completed to apply for the federal help.
“Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan,” a FloridaCommerce news release said.
