Wisconsin Flood Recovery Centers Open to Assist Victims

SBA Loans Available:: The Small Business Administration (SBA) is offering low-interest loans to flood victims. Businesses can borrow up to $2 million for property damage, while homeowners and renters can receive up to $500,000 for damages to personal property.

*Why this matters:* This financial assistance can help businesses and residents recover from significant losses and repair damaged property.

Economic Injury Loans:: Business owners can also apply for economic injury loans to cover costs they would have been able to manage if the disaster hadn't occurred.

*Why this matters:* These loans can help businesses stay afloat during the recovery period by covering essential operating expenses.

FEMA Aid:: FEMA has already distributed over $36.8 million in flood aid to more than 5,100 households.

*Why this matters:* This direct assistance provides immediate relief to families struggling to recover from the floods.

Recovery Centers Open:: Centers are open in Washington, Waukesha, and Milwaukee counties, providing in-person assistance with the application process.

*Why this matters:* These centers offer personalized support to navigate the complex application process for federal aid.

Application Deadlines:: The deadline to apply for physical damage loans is November 10th, while the deadline for economic injury loans is in June of next year. The FEMA application deadline is November 12th.

*Why this matters:* It's crucial to apply promptly to ensure access to available funds.

SBA Loans: Businesses can apply for loans up to $2 million for physical damage and additional loans to cover economic injuries. Homeowners and renters are eligible for up to $500,000 for property damage.

FEMA Assistance: Direct financial aid is available for eligible households. As of late September, FEMA has already disbursed millions to affected residents.

Local Funding: The Milwaukee Common Council approved $750,000 in emergency funding to expand the Department of Neighborhood Services' Code Compliance Loan Program.

Gather all necessary documentation, including proof of residency, damage assessments, and financial records.

Visit a disaster recovery center for personalized assistance with the application process.

Apply for assistance as soon as possible to meet the upcoming deadlines.

Low-income homeowners who may not have the resources to make necessary repairs.

Small business owners who have suffered property damage or economic losses.

Renters who have lost personal property due to flooding.