Emergency Loans for Small Businesses in Eastern Cyclades / Public News Service


Small businesses in eastern Kentucky affected by the devastating floods that killed at least 28 people in more than a dozen counties are available to small businesses in eastern Kentucky.

Many of the area’s local businesses are just beginning to recover from the pandemic, said Robert Allen, credit director at the mountain association, and now they need help to rebuild. He said residents and rescue workers beginning the clean-up process are counting on shops and stores to provide essentials.

“There are grocery stores there that are an important part of the community where the food source is,” he said. “There are businesses that are going to have a really tough time rebuilding and the economic impact is real.”

Allen said credit information may not be available online just yet, but wants residents to know to look further massociation.org for updates. President Joe Biden has declared the flooding a federal emergency, which opens the door for Federal Emergency Management Agency support and federal assistance to recovery efforts. The loans aim to help business owners with immediate needs and have a six-month payback period on interest only.

Allen said the goal is to get local businesses “back on their feet” as quickly as possible “to meet the expenses caused by critical equipment they may need — lost revenue, need for more capital, cleanup — whatever the case.”

Applications for FEMA assistance are online at katastrophenhilfe.gov. If specific county information is not yet available, residents can pre-apply and the application will be processed once the county is included in the federal declaration. Budgetary crisis resolution help is also available at crisis-cleaning.org.

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