U.S. Rep. Steve Stivers (R-OH) recently reiterated his support of a Small Business Association initiative meant to improve access to low-interest loans for business owners impacted by the damaged dam and resulting low water level at Ohio’s Buckeye Lake.
The earthen dam has been weakened due to structures such as docks and homes being built on it, and the U.S. Army Corps of Engineers says the 4.1-mile dam is at risk of failing.
Water levels at the lake have purposely been kept low to ease some of the threat posed by the dam.
“The declaration by the Small Business Administration was critical for ensuring that area business owners have access to low-interest loans so they can make ends meet while the state works to repair the dam,” Stivers said. “While this designation is not a panacea, it is a starting point for the economic disaster created by the low water level at Buckeye Lake.”
More than a dozen businesses, including marinas, bait shops and restaurants, told state officials they’ve lost significant revenue because of the lower water level, prompting Ohio Gov. John Kasich to ask the federal government to declare an economic injury disaster for three counties near the lake, including Fairfield, Licking and Perry counties.