Small Business Administration Approves Governor Hogan’s Request for a Physical Disaster Declaration in Baltimore City, Howard County
SBA Low-interest Loans Available to Qualifying Homeowners, Renters, and Businesses Affected by May Flooding
REISTERSTOWN, Md. (July 26 2018) — Governor Larry Hogan announced today that the U.S. Small Business Administration (SBA) has approved his request for a physical disaster declaration for Baltimore City and Howard County following severe storms and flash flooding on May 27. This declaration allows affected businesses, homeowners, and renters whose properties had damages and meet certain criteria to apply for low-interest loans for repairs. People who live in contiguous counties, including Anne Arundel, Baltimore, Carroll, Montgomery, and Prince George’s, are also eligible to apply.
“Many businesses, homeowners, and residents have been profoundly affected by the flooding that occurred in May,” said Governor Hogan. “These loans are a key component of the recovery process and an important part of the rebuilding process. Our administration will continue to support these communities to ensure that recovery and we thank our federal partners for their swift approval of our request.”
Baltimore City and Howard County requested a SBA damage assessment through the Maryland Emergency Management Agency (MEMA). Preliminary damage assessments were recently completed and validated that both jurisdictions were eligible for a SBA physical disaster declaration. The SBA will work with the local jurisdictions and MEMA to establish disaster loan outreach centers and other methods for residents to apply in the coming days.
Earlier this month, the SBA approved Governor Hogan’s request for a physical disasterdeclaration for Frederick County following flooding May 15-20.
The SBA provides low-interest disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters. For more information, please visit www.sba.gov.