Kem Fleming, Director of SBA recently said on Tennessee severe weather and wildfires of spring 2022.

Homeowners can get loans up to $200,000 to replace or restore their damaged or destroyed real estate.

Loans up to $40,000 are available to homeowners and tenants for the replacement or repair of destroyed personal goods.

With maturities up to 30 years, interest rates are as low as 2.94% for enterprises,1.875% for nonprofits, and 1.438% for homeowners and renters.

The SBA determines loan amounts and conditions depending on the financial standing of each applicant.

On the other hand, The United States Small Business Administration (SBA) has also received a letter from SCSBE.

The Senate Committee on Small Business and Entrepreneurship urged to process supposedly abandoned disaster loan applications.

Applications which were submitted before the time set by the agency.

Some of the Applicants who filled out the loan applications around May 6, 2022 have not been processed by the SBA.

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