SNOHOMISH COUNTY, JAN. 15: If you were impacted by damage after last November’s Bomb Cyclone you can now apply for Windstorm Disaster Loans at the Evergreen State Fairgrounds in Monroe with assistance from the Small Business Administration (SBA) Disaster Loan Outreach Center.
The center will be open weekdays at the VIP cabin located at 14405 179th Ave. SE in Monroe through Jan. 31. Personnel will be there to assist with recovery loan applications for damage not covered by regular home insurance.
You can get assistance with your application from 9 a.m. to 6 p.m. on Monday, Tuesday and Thursday, and from 10 a.m. to 7 p.m. on Wednesday and Friday.
Representatives of the U.S. Small Business Administration Office of Disaster Recovery and Resilience will help those in need to explore applying for low-interest loans.
“The loans offer many in our community a good option to help recover from the Bomb Cyclone more fully”, Lucia Schmit, the County’s Emergency Management director said.
Disaster loans up to $500,000 can be made available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles. Businesses may also be eligible for up to $2 million for both physical and economic losses due to storm damage.
Many Snohomish County residents were hit hard during this storm and unfortunately, most of those damages are not eligible for state or federal relief funds, because either they were to property other than a primary residence or because the owner did have some home insurance, which is a good thing.
“SBA loans might be able to help with those losses. We are grateful that the SBA is standing up a Disaster Loan Outreach Center at the County fairgrounds to help our residents access resources that can help with rebuilding and recovery,” Schmit said.
The November windstorm caused more than $18 million in damage to publicly owned infrastructure such as powerlines and roads. Meanwhile, more than 225 county residents and businesses have reported an estimated $5.5 million in damage to homes and other private property.
Snohomish County emergency management staff worked in the field to check out the damage and has confirmed that most Snohomish County residents who sustained storm damages aren’t eligible for the limited support available through the state’s Individual Assistance program. This makes SBA loans a more accessible option for impacted residents.
Business owners are welcome to come to the Disaster Loan Outreach Center as well for answers to their questions and assistance with their applications. A home or business owner may also be eligible for a loan increase of up to 20% of their physical damage amount to harden their home or business against future damage.
Interest on the loans does not begin to accrue nor do the repayments start until 12 months after receiving the initial payment.
Applicants may also call SBA’s Customer Service Center at 800-659-2955 or email [email protected] for more information on SBA disaster assistance.
For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Based off a press release from Snohomish County Emergency Management.
