Small Business Administration responds to Eastern Ky. flooding

Weekday broadcast of WYMT Mountain News at 5:30
Published: Aug. 5, 2022 at 4:10 PM EDT|Updated: Aug. 7, 2022 at 2:53 PM EDT
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PERRY COUNTY, Ky. (WYMT) - Associate Administrator of The Small Business Administration (SBA), Francisco Sanchez, got a first hand look at the devastation left behind from flooding in Perry and Knott counties..

”[There] is actually a lot of resilience, and a lot of pride in this community,” he said. “I did see a lot of challenges, and we’re going to talk about how we overcome those.”

Eastern Kentuckians are spread out, the SBA is making sure its disaster and business recovery centers are accessible. A round table discussion was had Friday afternoon to address similar concerns from those impacted.

”That’s critical so we can get the information from the ground as what is needed here,” he added. “What do we have to bring to the table and how do we adapt that in a way that can help the community recover.”

The SBA provides below market interest rates to home and business owners during a disaster. Those loans can be paid back over 30 years. Homeowners can request up to $200,000. Businesses can seek up to $2 million for physical damages and economic recovery.

”This is a flooding event, and so we recognize there is a challenge to paperwork, having access to records, that said please come in anyway,” he said.

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