Franklin, Six Adjacent Counties Approved for Low-Interest Disaster Loans



U.S. Small Business Administration Declares Disaster for May 18-19 Flooding

COLUMBUS — Ohio Governor Mike DeWine announced today that Ohio has received a U.S. Small Business Administration (SBA) disaster declaration for flooding that occurred in Franklin County May 18-19, opening up the possibility of low-interest disaster loans for business owners, homeowners and renters in Franklin County and six adjacent counties.

This SBA-only declaration is for individuals and businesses who have uninsured losses from severe storms and flooding in mid-May in Franklin and six adjacent counties: Union, Delaware, Licking, Fairfield,  Pickaway and Madison counties.

There are three types of loans available to those with credit acceptable to SBA:

  • Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
  • Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
  • Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

SBA has opened a Virtual Disaster Loan Outreach Center (VDLOC) to help survivors apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloanassistance.sba.gov/ and there are virtual customer support representatives available to assist applicants with completing the online application.  The VDLOC information:

Virtual Disaster Loan Outreach Center (VDLOC)
Open:  Monday – Friday
Hours:  8 a.m. – 5 p.m.
Closed: Saturdays and Sundays
EmailFOCE-Help@sba.gov
Phone: (202) 803 – 3307 or (470) 363 – 5936

These services are only available for the Ohio disaster declaration as a result of severe storms and flooding on May 18-19, 2020, and not for COVID-19 related assistance. 

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