District 19

Alder Keith Furman

Image of Alder Keith Furman

Alder Keith Furman

Council Office

Common Council Office:
210 Martin Luther King, Jr. Blvd
Room 417
Madison, WI 53703
Phone: (608) 266-4071
Fax: (608) 267-8669
WI Relay Service

District 19 Blog

SBA Disaster Assistance for Wisconsin - Severe Storms, Tornadoes, Straight -Line Winds, Flooding, and Landslides (8-17-2018 to 9-14-2018)

November 6, 2018 1:20 PM

I just received information from the US Small Business Administrator (SBA) I wanted to pass along. They shared details about disaster assistance loans available to homeowners, renters, businesses and non-profit organizations that were affected by "Severe Storms, Tornadoes, Straight -Line Winds, Flooding, and Landslides that occurred from August 17, 2018 to September 14, 2018".

SBA disaster assistance loans are available to homeowners, renters, businesses and non-profit organizations of all sizes that were affected by the disaster.  SBA offers disaster assistance loans up to $200,000 to homeowners for the repair or replacement of disaster damaged or destroyed real estate.  Homeowners and renters are also eligible to borrow up to $40,000 to repair or replace disaster damaged or destroyed personal property.  Automobiles that were damaged by the disaster are also eligible for disaster assistance loans. Businesses and private non-profit organizations of any size or type may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. 

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, the SBA offers the Economic Injury Disaster Loans to help meet working capital needs caused by the disasters.  Economic Injury disaster loans are available regardless of whether the business suffered any physical property damage.

The disaster loans interest rates are as low as 2.000 % for homeowners and renters, 2.500% for non-profit organizations and 3.675% for businesses and economic injury with terms up to 30 years to repay the disaster loan.  Loan amounts and terms are set by the SBA and are based on each applicant's financial condition.

Location and hours of operation of the (DRC) Disaster Recovery Cover Center in Dane, County.  

Disaster Recovery Center (DRC)

2413 Parmenter Street
Middleton, WI 53562

Monday- Saturday - Hours of Operations: 9:00 AM to 6:00PM

SBA Business Recovery Center (BRC)

740 Regent Street
Madison, WI 53562

Monday- Friday - Hours of Operations: 8:00 AM to 5:00PM

You can download a data sheet with more information.

If there is anything I can do to help, feel free to reach out: district19@cityofmadison.com

-Keith F



Tags: Flooding

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