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Haslam Announces SBA Disaster Declaration for Late-April Floods

Press release from the Office of Tennessee Gov. Bill Haslam; May 10, 2013:

NASHVILLE – Tennessee Gov. Bill Haslam announced today the U.S. Small Business Administration (SBA) has granted his disaster declaration request for Stewart and its surrounding counties after severe storms and flash flooding occurred April 26, 2013.

The declaration includes Benton, Henry, Houston and Montgomery Counties, and an SBA disaster declaration makes homeowners and businesses affected by the disaster eligible for low-interest loans.

Those affected have until July 9, 2013, to apply for relief from the physical damage and until Feb. 10, 2014, to apply for relief from economic injury.

“This is good news, and these loans will help individuals whose homes and businesses were damaged more quickly recover,” Haslam said.

The interest rates for homeowners without credit elsewhere will be 1.875 percent. Loans for homeowners with credit elsewhere will be 3.750 percent. Interest rates for businesses will be four percent for those without credit elsewhere and six percent for businesses that have credit elsewhere.

Additionally, the SBA will open temporary offices to help homeowners and businesses with the disaster loan process. More information on SBA disaster loans is at: http://www.sba.gov/category/navigation-structure/loans-grants/small-busi….

The damage survey in Stewart County identified 40 homes with major damage and 19 homes with minor damage. There were eight businesses identified with major damage and two businesses with minor damage. Damage assessment teams also identified three other structures in Stewart County with major damage.

From April 26, to April 28, 2013, a severe weather front brought heavy precipitation into middle Tennessee and parts of west and east Tennessee. The National Weather Service (NWS) reported heavy rainfall totals of up to six inches that resulted in localized flash flooding.

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Haslam Requests Disaster Recovery Assistance from SBA

Press release from the Office of Tennessee Gov. Bill Haslam; February 11, 2013:

NASHVILLE – Tennessee Gov. Bill Haslam has requested assistance from the Small Business Administration (SBA) to help individuals and businesses in Henderson County and the contiguous counties recover from wind, tornado and flooding damages that occurred on Jan. 29, 2013. The additional counties that would be eligible for SBA loans are Carroll, Chester, Decatur, Hardin and Madison as damage to homes and businesses occurred in multiple locations.

A survey by the Tennessee Emergency Management Agency (TEMA) and the SBA indicates more than 25 homes and businesses in Henderson County sustained uninsured losses of 40 percent or more of their estimated pre-disaster fair market value.

“If Henderson County is designated by SBA, the assistance provided will help Tennesseans rebuild in the wake of these storms,” Haslam said.

The damage survey in Henderson County identified 37 homes with major damages, and 146 homes with minor damages. There were 11 businesses identified with major damages and two businesses with minor damages.

The SBA provides low interest disaster loans to homeowners, renters, businesses of all sizes and private, non-profit organizations to repair or replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed in a declared disaster.

To request a SBA designation for a county, the state must first be sure the state and affected communities will not qualify for the federal individual assistance program.

The Tennessee Emergency Management Agency and county officials have determined that Henderson and other counties affected by the January storm would not qualify for the Federal Emergency Management Agency’s individual assistance programs based on a formal assessment of the damages.

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Disaster Declaration for Upper East TN Floods

Press release from the Office of Tennessee Gov. Bill Haslam; August 17, 2012:

NASHVILLE – Tennessee Gov. Bill Haslam announced today the U.S. Small Business Administration (SBA) has granted his disaster declaration request for Washington and its surrounding counties after severe storms and flash flooding occurred Aug. 5, 2012.

The declaration includes Carter, Greene, Hawkins, Sullivan, Unicoi and Washington counties, and an SBA disaster declaration makes homeowners and businesses affected by the disaster eligible for low-interest loans.

“This is good news and will provide a measure of relief and recovery to the individuals whose homes and businesses were damaged earlier this month in Upper East Tennessee,” Haslam said.

The interest rates for homeowners without credit elsewhere will be 1.688 percent. Loans for homeowners with credit elsewhere will be 3.375 percent. Interest rates for businesses will be four percent for those without credit elsewhere and six percent for businesses that have credit elsewhere.

Additionally, the SBA will open a temporary office on Tuesday, Aug. 21, 2012, in the, Washington County Courthouse, 100 E. Main St. in Jonesborough, to help homeowners and businesses with the disaster loan process. More information on SBA disaster loans is at: http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/disaster-loans.

On Aug. 5, a severe storm front moved across Tennessee cause numerous severe straight line winds and flash flooding, which continued through Aug. 6, 2012. The following weekend, teams from the Tennessee Emergency Management Agency, Federal Emergency Management Agency, SBA and local emergency management officials conducted a preliminary damage assessment in Carter, Unicoi and Washington counties. In Washington County, more than 25 uninsured homes and businesses experienced damage in excess of 40 percent of their replacement value. This damage was enough to qualify the county for an SBA disaster declaration.

Those affected have until Oct. 15, 2012, to apply for relief from the physical damage and until May 16, 2013, to apply for relief from economic injury.

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Federal Dishing Out Drought Disaster Loans

Press release from the U.S. Small Business Administration (via PRNewswire.com); July 20, 2012:  

ATLANTA, July 20, 2012 /PRNewswire-USNewswire/ — The U.S. Small Business Administration announced today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Henry, Lake, Montgomery, Obion, Robertson, Stewart and Weakley counties in Tennessee as a result of the drought that began on June 19, 2012.

“These counties are eligible because they are contiguous to one or more primary counties in Kentucky. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster,” Skaggs added.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to eligible

farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster. With the exception of aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, or ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions.

Loan amounts can be up to $2 million, with interest rates of 3 percent for non-profit organizations and 4 percent for small businesses. Terms can be up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. The agency sets loan amounts and terms based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by sending an e-mail to disastercustomerservice@sba.gov. Loan applications can be downloaded from the SBA’s website at www.sba.gov. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Completed loan applications must be returned to SBA no later than March 12, 2013.

For more information about the SBA’s Disaster Loan Program, visit our website at www.sba.gov.

Contact: Michael Lampton
Release Number: 12-660 KY 13127
Phone: 404-331-0333

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TDEC Announces $25.5 Million in Loans for Water, Wastewater Systems

Press release from the Tennessee Department of Environment and Conservation; June 6, 2012:

NASHVILLE – Tennessee Gov. Bill Haslam and Department of Environment and Conservation Commissioner Bob Martineau today announced that two communities, one water authority, and one water/wastewater authority have been approved to receive a total of $25.5 million in low-interest loans for water and wastewater infrastructure improvements.

“These projects will help address critical drinking water and wastewater infrastructure improvements, as well as foster healthy communities as they continue to grow,” Haslam said.

The State Revolving Fund (SRF) Loan Program provides low-interest loans that help communities, utility districts, and water and wastewater authorities finance projects that protect Tennessee’s ground and surface waters and public health. Loans are used to finance the planning, design and construction of water and wastewater facilities.

The Department of Environment and Conservation administers the SRF Loan Program for the state of Tennessee in conjunction with the Tennessee Local Development Authority. The U.S. Environmental Protection Agency provides grants to fund the program, and the state provides a 20 percent match. Loan repayments are returned to the program and are used to fund future SRF loans.

Through the SRF Program, communities, utility districts, and water and wastewater authorities can obtain loans with lower interest rates than most can obtain through private financing. Interest rates for loans can vary from zero percent to market rate based on each community’s economic index. Loans utilizing the 2010 EPA grant funds include 20 percent principal forgiveness for water and wastewater projects, while 2011 EPA grant funds include 30 percent principal forgiveness for water and 10 percent principal forgiveness for wastewater projects.

“The State Revolving Fund loan program is an important tool that not only helps implement much needed infrastructure improvements for the ongoing protection of the environment and public health, it also keeps local communities moving forward as they prepare for future needs,” Martineau said.

The funding order of projects is determined by the SRF Loan Program’s Priority Ranking Lists that rank potential projects according to the severity of their pollution and/or compliance problems or for the protection of public health.

 

Wastewater Loans were announced today for the following recipients:

Hamilton County Water and Wastewater Treatment Authority – The Hamilton County Water and Wastewater Treatment Authority will receive $6 million for a project that includes infiltration and inflow correction. The project will be funded with a 20-year, $4.8 million loan with an interest rate of 1.54 percent and $1.2 million in principal forgiveness (20 percent) that will not have to be repaid.

Water Authority of Dickson County (Dickson and Williamson Counties) – The Water Authority of Dickson County will receive $10 million for a project that includes collection system expansion and rehabilitation and replacement of gravity sewer trunk lines. The project will be funded with a 20-year, $8 million loan with an interest rate of 1.11 percent and $2 million in principal forgiveness (20 percent) that will not have to be repaid.

City of White House (Sumner and Robertson Counties) – The city of White House will receive $4 million for a project that includes infiltration and inflow correction. The project will be funded with a 20-year, $3.6 million loan with an interest rate of one percent and $400,000 in principal forgiveness (10 percent) that will not have to be repaid.

 

A Drinking Water Loan was announced today for the following recipient:

City of Lebanon (Wilson County) – The city of Lebanon will receive $3.67 million for Water Treatment Plant improvements, including new clearwells. The project will be funded with a 20-year, $2.94 million loan with an interest rate of 1.76 percent and $0.73 million in principal forgiveness (20 percent) that will not have to be repaid.

 

A traditional Wastewater Loan was announced today for the following recipient:

City of White House (Sumner and Robertson Counties) – The city of White House will also receive a $500,000, 20-year loan with an interest rate of one percent for a project that includes infiltration and inflow correction.

 

A traditional Drinking Water Loan was announced today for the following recipient:

City of Lebanon (Wilson County) – The city of Lebanon will also receive a $1.33 million, 20-year loan with an interest rate of 1.76 percent for Water Treatment Plant improvements, including new clearwells.

 

The two traditional loans do not include either the 2010 or the 2011 EPA funding or the principal forgiveness provision.

Since its inception in 1987, Tennessee’s Clean Water State Revolving Fund Loan Program has awarded more than $1.2 billion in low-interest loans. Since its inception in 1996, Tennessee’s Drinking Water State Revolving Fund Loan Program has awarded more than $198 million in low-interest loans. Both programs combined award more than $80 million annually to Tennessee’s local governments for water and wastewater infrastructure projects.

Any local government interested in the SRF Loans, should contact the State Revolving Fund Loan Program, L&C Tower, 8th Floor, 401 Church Street, Nashville, TN 37243, or call (615) 532-0445. Additional information about the SRF Loan Program may be found online at www.tn.gov/environment/srf.