Small Business Administration offers help
Comet staff report

Where have all the flood victims gone? The FEMA Disaster Recovery Center located in the old middle school gymnasium on Monroe St. in Delphi is host to several flood victim aid-related agencies. Personnel are on hand to help with applicant services and hazard mitigation. The Internal Revenue Service and the Small Business Administration are also ready and waiting on the gym floor to help FEMA registered flood victims. The Red Cross has boxes of cleaning supplies ready to hand out to victims on the upper level of the building. According to Jeanne Kern, chief of the individual assistance branch, only approximately 100 victims have visited the center. "Not all of our assistance is monetary," Kern said Monday. "People can come here every day if they want to as they need answers to different questions." Comet photo by Debbie Lowe

Small Business Administration (SBA) Disaster Loans are for homeowners, renters and businesses of any size.

SBA Disaster Loans are the primary form of Federal assistance to repair/replace damaged private property not fully covered by insurance or other compensation.

Bridge over troubled water Blue Bridge on the Wabash & Erie Canal Historic Park Trail in Delphi was unavailable for pedestrian traffic during last week's flooding. The Wabash River rose significantly when warmer temperatures brought rain to the area and melted snow already on the ground. Comet photo by Kevin Schnepp

Also, while the Disaster Recovery Center (DRC) is still open in Delphi and Small Business Administration staff is available, homeowners, renters and businesses of any size that have received an SBA Disaster Loan Application are encouraged to visit the Disaster Recovery Center (DRC).

The SBA staff can provide one-on-one assistance in helping anyone get their application complete and the applications can be turned-in to SBA staff at the DRC.

The sooner the SBA receives applications the sooner they can start the process in getting assistance toward recovery.

If SBA is not able to approve a home loan, SBA will refer that applicant back to FEMA for any possible assistance they might be able to provide.

Putting their heads together Congressman Joe Donnelly visited the Delphi location of the FEMA Disaster Recovery Center Monday afternoon. While there, Donnelly discussed recovery efforts with Delphi Mayor Randy Strasser, Carroll County Commissioner Loren Hylton and county council member Steve Ashby. Comet photo by Debbie Lowe

The SBA also encourages applicants to not wait on insurance settlement. SBA can start the process without any insurance settlement information.

These are low-interest loans with terms that can go up to 30 years. The low rate for homeowners and renters is 2.937 percent and the low rate for businesses is 4 percent. SBA Disaster Loans can make recovery affordable with low rates and long terms.

Disaster loans up to $200,000 are available to homeowners to repair or replaced damaged or destroyed real estate.

Homeowners and Renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property, such as furniture, clothing, auto, etc.

Businesses of any size and private not-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses only, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loans assistance is available regardless of whether the business suffered any physical property damage.

Physical damage loans may be increased by as much as 20 percent to protect property against future disaster of the same type.

Visit the SBA in the Disaster Recovery Center in the old middle school gym on Monroe St. in Delphi.