Efforts buttressed by Michigan Republicans U.S. Rep. Fred Upton and Gov. Rick Snyder helped guarantee state residents and businesses will have access to low-interest federal loans to aid in their recovery from severe February flooding.
“We’ve seen first-hand the destruction this severe flooding has caused,“ said Rep. Upton on April 2 following approval by the U.S. Small Business Administration (SBA) to grant Gov. Snyder’s request for flood-recovery funds. “Today’s announcement is welcome news for our area.”
The SBA granted the governor’s request after concluding damage assessments in March following heavy rainfall and snow melt in mid-February caused widespread flooding and damage, according to Rep. Upton’s staff.
On March 12 Gov. Snyder declared a state of disaster for 17 counties and two cities and on March 13 formally sought an SBA disaster declaration for eight flood-stricken Lower Peninsula counties in Michigan. Such a declaration would make residents and businesses eligible for low-interest loans through the SBA disaster assistance program and provide “assistance to help Michiganders repair their damaged homes and replace personal property,” Snyder said at the time.
On March 14, Rep. Upton led U.S. Reps. Bill Huizenga (R-MI), John Moolenaar (R-MI), Mike Bishop (R-MI), Debbie Dingell (D-MI) and other members of the state’s congressional delegation in calling on the SBA to grant Gov. Snyder’s disaster declaration request in a bipartisan letter to SBA Administrator Linda McMahon. On March 23, Gov. Snyder requested a disaster declaration for four more Michigan counties.
“Specifically, the declaration authorizes local governments to have access to state emergency resources, including grants of up to $100,000 for reimbursement of local response costs,” according to the federal lawmakers’ letter. “In addition, it allows the Michigan State Police, Emergency Management and Homeland Security Division, to coordinate damage recovery efforts and work with local emergency management agencies in the areas affected by the flooding.”
The SBA disaster assistance program, according to Rep. Upton’s staff, makes low-interest disaster loans available for uninsured losses incurred by homeowners, renters, businesses, and non-profit organizations to repair and replace real estate, personal property, machinery and equipment, inventory and business assets that have been damaged or destroyed. Repayments for each disaster loan are tailored to each borrower’s financial capability.
“These low-interest loans will help our local businesses and residents recover financially from the tremendous impact of the recent flooding,” Rep. Upton said on April 2.