Reminder to Flood-Affected Homeowners About SBA Flood Relief Deadline
Eligible Residents Must Apply by December 14
SAINT PAUL, MN (12/06/2010)(readMedia)-- Minnesota Housing would like to remind homeowners in southern Minnesota who sustained flood damage during the September, 2010 flooding that they must apply to the Small Business Administration (SBA) by the upcoming December 14 deadline in order to be eligible for potential state assistance. Homeowners are also encouraged to explore flood insurance, given the recurrence of flooding in southern Minnesota counties.
The Quick Start Disaster Recovery Program (Quick Start) offered by Minnesota Housing is intended for homeowners who are unable to repair or rebuild their homes due to flood damage expenses that exceed private insurance and SBA assistance. Funded through state appropriations, Quick Start provides no-interest loans from a minimum of $1,000 to a maximum of $30,000 for capital improvements to return houses to their pre-disaster, or comparable, condition. The deadline for Quick Start applications is February 14, 2011.
In order to be eligible for a Quick Start loan, homeowners are required to apply for SBA assistance first. Homeowners who are considering a buyout are encouraged to apply to SBA to ensure maximum assistance options are available.
"It is important for flood-affected homeowners to apply for federal SBA funding and we don't want them to miss the upcoming December 14 application deadline," said Dan Bartholomay, Commissioner of Minnesota Housing.
Governor Pawlenty signed legislation that provided $4 million to help nearly 200 households who may eligible after SBA assistance has been exhausted. To date, more than 60 loans have been committed for a total of nearly $1.5 million.
Flood-affected homeowners who need additional help or have questions about SBA applications, please call 1-800-659-2955 or email email@example.com.
After homeowners have applied and been declined by SBA, or are determined to need additional funds, they may apply for Quick Start funding. Eligible homeowners can contact the following local administrators to apply for Quick Start until February 14, 2011:
Dodge, Fillmore, Freeborn, Mower, Steele and Winona Counties:
Main Office - Fillmore and Winona Counties, 507.864.8207 or 507.864.8241
- Kasson Office - Dodge County, 507.634.4350
- Albert Lea Office - Freeborn County, 507.373.1329
- Austin Office - Mower County, 507.433.5889
- Owatonna Office - Steele County, 507.864.8240 or 507.451.7134
Goodhue, Rice and Wabasha Counties:
- Three Rivers Community Action, Inc., 507.732.7391 or 1.800.277.8418
Blue Earth, Faribault, Jackson, Martin, Waseca and Watonwan Counties:
- Minnesota Valley Action Council, Inc., 507.345.6822
- Olmsted County HRA, 507.328.7154
Minnesota Housing is a state agency committed to finance and advance affordable housing opportunities for low and moderate income Minnesotans to enhance quality of life and foster strong communities. The agency invests more than $1.6 billion in affordable housing each biennium with total assets of $3.6 billion as of June 30, 2010.