Low-Interest Loans Available to Residents in Wayne and its Surrounding Counties
Tennessee Gov. Bill Haslam today announced the U.S. Small Business Administration (SBA) has granted a disaster declaration for Wayne County due to impacts in the county from the severe storms, tornadoes and heavy precipitation that occurred Dec. 23-28, 2015.
The declaration also includes the surrounding counties of Decatur, Hardin, Lawrence, Lewis and Perry in Tennessee, as well as Alabama’s Lauderdale County.
“These storms left incredible devastation across multiple counties, and access to the SBA’s disaster loans will help these citizens, individual homeowners, renters and business owners begin the recovery process much faster,” Haslam said.
Those affected have until April 25, 2016 to apply for assistance for physical damage and until Nov. 25, 2016 to apply for relief from economic injury.
The interest rates for homeowners will be 1.813 percent for those without established credit, and 3.625 percent for those with established credit. Interest rates for businesses will be 4 percent for those without established credit, and 6 percent for businesses with established credit.
The SBA is opening a temporary office to help homeowners and businesses with the disaster loan process. The SBA office will operate from March 1-8, closed on Sunday, and will be located at the Lutts Fire Department, 8111 Lutts Road in Wayne County.
More information is available through the SBA’s Disaster Assistance Customer Service Center at (800) 659-2955, by email email@example.com, or by visiting SBA’s Web site at www.sba.gov/disaster.
A joint Tennessee Emergency Management Agency (TEMA) and SBA damage survey identified more than 27 homes in Wayne County that sustained major damage from the severe weather.
On Dec. 23, 2015, a severe weather system brought storms, tornadoes, and heavy rain to Tennessee, and continued through Dec. 25, 2015. A second rain system impacted the state on Dec. 28, 2015. The severe weather systems resulted in damage to homes, businesses and public facilities in multiple counties, and caused six confirmed fatalities.
TEMA’s mission is to coordinate preparedness, response and recovery from man-made, natural and technological hazards in a professional and efficient manner in concert with our stakeholders.