Businesses Still Eligible for Flood Help

The deadline for flood victims to get help with property damage passed last week, but there is still help available for businesses that lost income.

The Small Business Administration has low-interest loans for companies and non-profits in nearly every county in Tennessee. To qualify, a company must show that a decline in business due to May’s flooding. It’s considered an economic injury, and SBA spokesman Tom Nocera says it’s easy to overlook.

“Everyone looks at the bricks and mortar aspect of their damage. It’s a secondary look when you realize your business has fallen off drastically. If you’re in the florist business, or a barber, you may not see the same income anymore because people are spending that money for other things.”

Businesses in the 46 counties that were declared a federal disaster are eligible for loans up to $2 million. Companies in surrounding counties are also eligible for the same amount.

Even businesses who lost records in the flood are encourage to apply. Nocera says only 86 applications have been returned for consideration.

The deadline is February 4, 2011. You can apply online, at one of the two loan centers still open in Davidson County, or by calling 800-621-FEMA.

SBA Loan Outreach Centers:
Bellevue Church of Christ
7401 Highway 70 So.
Bellevue, TN
8 am – 4:30 pm

Fifty Forward Bldg.
174 Rains Rd.
Nashville, TN
8 am – 5 pm