Many businesses and organizations in Eastern Kentucky have been impacted by recent floods. We know relief through local, state or federal programs may not be immediately available to get you back up and running.
That’s where the Mountain Association can come in.
As you look to recover from damages to your home, businesses or nonprofit, we encourage you to explore options through any insurance policies, FEMA, the Small Business Administration, and nonprofit agencies. We have links to those options on this webpage and will continue to share there and via our social media in the coming days.
Importantly, the SBA is setting up Business Recovery Centers in Hazard, Manchester, and Whitesburg starting August 3rd to help business owners apply for SBA disaster relief loans as required by FEMA.
Because we know those options may take many days to sort through and get funds in your account, we want to provide an option to business owners and nonprofit leaders who need to cover expenses now.
Eligible businesses & organizations can apply for a flood relief loan from Mountain Association:
- Amount: $1,000 to $5,000
- Interest Rate: 3%
- Interest Only for first 12 months
- Term: Up to 5 years
- No application fee, no closing costs, no collateral, no personal guaranty
These loans are available to businesses and non-profits located in counties that have been officially declared disaster areas, or that can demonstrate impacts to the business or organization from the floods via photos or other information.
The program is open until September 30, 2022, or until funds run out. We hope to make decisions within two to 10 business days once we have all required information, but please note there may be a delay depending on volume.
To apply, please visit here: https://portal.mtassociation.org/flood-loan/
A staff member will contact you to review the application and discuss next steps.
If you’re not sure this loan or adding debt is right for you, or have questions, please get in touch. We can help you find a financial solution that fits:
Robert Allen, Mountain Association’s Lending Director, at robert@mtassociation.org or (859) 671-0242.
