DECATUR -- When the waters at area lakes, streams and rivers began to rise Dec. 26, it became apparent that a real disaster of epic proportion was in the making. Factor in severe storms, straight-line winds and tornadoes and you have a recipe for a major catastrophe.
With a three-day rain total of over 10 inches in Benton County, the flood water created extensive damage to area homes, businesses, roads and agriculture. This prompted Governor Asa Hutchinson to declare several counties in Arkansas, including Benton County, disaster areas.
With this declaration, residents of Benton County are eligible for disaster loans from the United States Small Business Administration.
Three types of loans that are available through the SBA include Business Physical Disaster, Economic Injury Disaster and Home Disaster. These loans are designed to help businesses, non-profit organizations, schools, homeowners and renters to repair or replace damage to real estate and personal property and provide working capital to businesses, non-profit organizations and agriculture.
These loans are similar to consumer loans in that they require applicants to submit a credit history, repayment and collateral.
The deadline to apply for physical damage assistance is April 5, 2016.
For more information on the U.S. Small Business Administration disaster assistance, call 800-659-2955 or go online at www.sba.gov/disaster.
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General News on 03/16/2016