Tennessee Gov. Bill Haslam announced today that the U.S. Small Business Administration (SBA) has granted a disaster declaration for Metro Nashville-Davidson County and its contiguous counties for the flash flooding that occurred earlier this month.
The declaration includes Cheatham, Robertson, Rutherford, Sumner, Williamson and Wilson counties, and an SBA disaster declaration makes homeowners and businesses affected by the disaster eligible for low-interest loans.
Those affected have until Oct. 25 to apply for assistance for physical damage and until May 26, 2014 to apply for relief from economic injury.
"Access to the SBA's disaster loans will help individual homeowners, renters and businesses begin the recovery process much faster," Haslam said. "I am grateful to the SBA for making this assistance available."
The interest rates for homeowners without credit elsewhere will be 1.937 percent. Loans for homeowners with credit elsewhere will be 3.875 percent. Interest rates for businesses will be four percent for those without credit elsewhere and six percent for businesses that have credit elsewhere. Additionally, the SBA will open temporary offices to help homeowners and businesses with the disaster loan process. More information on SBA disaster loans is at:
A joint Tennessee Emergency Management Agency (TEMA) and SBA damage survey shows more than 190 homes and 46 businesses in Davidson County sustained minor or major damages and/or loss of inventory.
On Thursday, Aug. 8, a severe weather front with heavy rain -- in excess of 10-inches in some locations -- moved across portions of Davidson County and Sumner and Wilson counties. First responders performed nearly 200 water rescues and high water covered numerous roadways and low-lying areas.