News Summary
Residents and businesses in Tennessee impacted by recent severe storms will benefit from low-interest disaster loans announced by the SBA. Following a presidential disaster declaration, eligible small businesses and nonprofits can apply for loans to recover from damage caused by tornadoes and flooding. The program extends assistance beyond Tennessee to neighboring states, ensuring comprehensive support for affected areas. Additionally, a disaster relief package approved by the Tennessee General Assembly aims to bolster recovery efforts for regions affected by past disasters, including Hurricane Helene flooding.
Tennessee residents and businesses impacted by the severe storms that struck between April 2 and April 24, 2025, are set to receive financial assistance through low-interest disaster loans. The U.S. Small Business Administration (SBA) has announced the availability of these loans following a Presidential disaster declaration made on June 19, 2025.
The loans aim to help small businesses, private nonprofits, and individuals recover from the aftermath of the storms, which included tornadoes, flooding, and straight-line winds. Primary counties in Tennessee eligible for both Physical Damage Loans and Economic Injury Disaster Loans (EIDLs) comprise Cheatham, Davidson, Dickson, Dyer, Hardeman, McNairy, Montgomery, Obion, and Wilson. Furthermore, adjacent counties, including Cannon, Chester, Crockett, Dekalb, Fayette, Gibson, Hardin, Haywood, Hickman, Houston, Humphreys, Lake, Lauderdale, Madison, Robertson, Rutherford, Smith, Stewart, Sumner, Trousdale, Weakley, and Williamson, qualify only for EIDLs.
Financial assistance extends beyond Tennessee’s borders, with neighboring states also receiving help. In Arkansas, Mississippi County is eligible, while Christian, Fulton, Hickman, and Todd counties in Kentucky are also included. In Mississippi, Alcorn, Benton, and Tippah counties qualify, and Pemiscot County in Missouri is recognized as well.
Eligible small businesses and most nonprofit organizations may apply for physical disaster loans of up to $2 million. These loans can be utilized to repair or replace assets damaged during the disaster, including real estate, machinery, equipment, inventory, and other business-related property. For homeowners and renters, loans of up to $100,000 are available for the repair or replacement of personal items, such as clothing, furniture, vehicles, and appliances. Homeowners specifically may borrow up to $500,000 to replace or repair their primary residences.
Moreover, the SBA has implemented additional provisions that allow applicants to potentially receive a loan increase of up to 20% of their verified physical damage for mitigation purposes. This is intended to fund upgrades that can lessen the risk of future storm damage. Improvements eligible for this funding include reinforcing structures to better withstand high winds, upgrading garage doors to wind-rated standards, and constructing storm shelters.
In response to prior disasters, the Tennessee General Assembly has recently approved a disaster relief package aimed at assisting northeast Tennessee communities that suffered from flooding caused by Hurricane Helene in September 2024. The package encompasses $110 million for local governments and an additional $100 million designated for a disaster response initiative. The flooding resulted in 17 fatalities and significant destruction to homes, businesses, and infrastructure in the affected regions. Communication from local officials indicates that the relief package will also offer property tax relief to impacted residents.
Support for the relief efforts has been bipartisan, although some criticisms arose from Democrats regarding the timing of the assistance measures. Meanwhile, local emergency management officials are actively distributing essential supplies to families impacted by the flooding.
To summarize, the initiative to provide low-interest disaster loans plays a crucial role in facilitating recovery and rebuilding efforts for those affected by recent storms. Alongside the support from state authorities, these programs aim to ensure that Tennessee’s communities can more effectively prepare for future disasters while recovering from past events. Local officials continue to advocate for robust support to help restore normalcy for those affected by the ongoing challenges presented by natural disasters.
Deeper Dive: News & Info About This Topic
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- Wikipedia: Disaster Relief
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- Encyclopedia Britannica: Disaster
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