In the aftermath of Hurricane Helene, communities face unprecedented challenges as they embark on the enormous task of recovery and rebuilding. In this episode of SBA UpdateWe are joined by SBA Regional Administrator Alan Thomas and SBA Director Kem Fleming. Field operations and disaster recovery. Together, they shed light on the extensive resources available to those affected by this disaster, including low-interest disaster loans for businesses, homeowners and nonprofit organizations. Tune in as they discuss practical steps for applying for assistance, the unique aspects of SBA disaster programs, and the agency’s vital role in helping communities recover stronger than ever.
Key takeaways
1. Thomas notes that Hurricane Helene has set a new benchmark for disaster response, being one of the largest hurricanes in United States history. The storm’s unique track caused severe flash flooding in areas not normally prepared for such events. With up to 30 inches of rain in some regions, recovery efforts are extensive and require immediate action from multiple agencies, including the SBA and FEMA.
2. Fleming describes the SBA disaster loan program designed to help homeowners, businesses and nonprofit organizations affected by Hurricane Helene. With loan amounts reaching up to $2 million for businesses and $500,000 for homeowners, these low-interest loans provide critical financial support for repairs and reconstruction. The program also includes working capital loans to cover lost income, helping business owners regain stability after the disaster.
3. Both Thomas and Fleming emphasize the importance of recovery and resilience. The SBA provides resources for mitigation efforts, allowing businesses to implement preventive measures to avoid similar losses in future disasters. This includes financial support for initiatives such as installing generators or raising HVAC systems to protect against flooding.
4. SBA officials emphasize the ease of the disaster loan application process and urge those affected to apply as soon as possible. They outline that potential applicants can start their applications online at SBA.gov and highlight the importance of lining up for funding, even if they are unsure of their insurance coverage. This proactive approach ensures that communities can access the support they need without unnecessary delays.
5. However, Thomas reiterates the SBA’s commitment to being an essential resource in the long-term recovery process, working alongside FEMA and local organizations to provide support. It emphasizes that the SBA’s role extends beyond immediate relief, with the goal of helping communities rebuild and thrive after disaster. The agency stands ready to help address the unique challenges posed by Hurricane Helene and similar emergencies in the future.