“The U. S. Small Business Administration (SBA) is a little-known federal agency, the nation’s bank for business and homeowner disaster,” said SBA District Director Mary McAleney. The Federal Emergency Management Agency (FEMA), she explained, is the national agency for roads, bridges, and temporary shelter. “It does the early mop-up of disasters and stabilizes communities,” she explained. Then the SBA comes in and provides businesses and homeowners with long term loans at a maximum fixed interest rate of 4 percent paid over as long as 30 years.
The Patriot’s Day northeaster tore the coast apart, particularly from the mid-coast to south of Casco Bay. FEMA came in, did damage assessment and declared a disaster, McAleney said, which meant businesses and homeowners could have access to federal disaster funds. Because the storm closed businesses and owners couldn’t sell their highly perishable lobster, they can now apply for an Economic Injury loan under an SBA program. Business that sustained physical damage, such as DiMillo’s, New Meadows Lobster, and Atwood can access funds under that SBA program for Physical Injury.
To apply for disaster relief, McAleney said business and homeowners in Cumberland, York, Sagadahoc, Lincoln, Oxford and Knox counties should first register with FEMA by calling 1-800-621-FEMA (3362), by visiting www.FEMA.gov. Or they may contact the SBA in Augusta by calling 207-622-8274. Applicants will be sent an SBA application for disaster assistance. q
–Sandra Dinsmore