Kentucky Disaster Declaration December 2021

Disaster Declaration

SBA Offers Disaster Assistance to Businesses and Residents of Kentucky Affected by Severe Storms, Straight-line Winds, Flooding and Tornadoes

Release Date: Monday, December 13, 2021
Release Number:  21-1213KY
Contact: michael.lampton@sba.gov
Internet Address: Kentucky District Office website

Low-interest disaster loans from the U.S. Small Business Administration (SBA) are available to businesses and residents in Kentucky following the announcement of a Presidential disaster declaration due to the severe storms, straight-line winds, flooding, and tornadoes on Dec. 10, 2021.

SBA’s mission-driven team stands ready to help Kentucky small businesses and residents impacted by this disaster in every way possible under President Biden’s disaster declaration for certain affected areas. We’re committed to providing federal disaster loans swiftly and efficiently, with a customer-centric approach to help businesses and communities recover and rebuild.

The disaster declaration covers Caldwell, Fulton, Graves, Hopkins, Marshall, Muhlenberg, Taylor, and Warren counties in Kentucky, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Adair, Allen, Barren, Butler, Calloway, Carlisle, Casey, Christian, Crittenden, Edmonson, Green, Hickman, Larue, Livingston, Logan, Lyon, Marion, McCracken, McLean, Ohio, Simpson, Todd, Trigg, and Webster in Kentucky; Mississippi and New Madrid in Missouri; and Henry, Lake, Obion, and Weakley in Tennessee.

Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.  Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, elevation, retaining walls, and landscaping to help protect property and occupants from future damage caused by a similar disaster.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster.  Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace disaster-damaged or destroyed personal property.

Interest rates are as low as 2.83 percent for businesses, 1.875 percent for nonprofit organizations and 1.438 percent for homeowners and renters, with terms up to 30 years.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/,  and should apply under SBA declaration # 17286, not for the COVID-19 incident.

To be considered for all forms of disaster assistance, applicants should register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is unavailable, applicants should call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.

Businesses and individuals may also obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or emailing DisasterCustomerService@sba.gov.(link sends e-mail) Loan applications can also be downloaded at sba.gov/disaster.   Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Feb.10, 2022. The deadline to return economic injury applications is Sept. 12, 2022.

Business Coaches from the Kentucky SBDC are available to provide information, resources, and assistance to Kentucky small business owners at no-cost. Click here to request an appointment with one of our business coaches or you may also reach us toll-free at 1-888-414-7232. 

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