Residents and property owners in the Schultz/Pipeline Fire Flood Area have until November 18, 2022, to apply for low-interest loans through the Small Business Administration (SBA) Disaster Loan Assistance Program. This program offers low-interest disaster loans to non-farm businesses of all sizes, private nonprofits, homeowners, and renters who suffered losses caused by the severe and repetitive post-wildfire flooding that occurred between July 23 through August 28, 2022.
“The SBA Disaster Loan Assistance Program offers a unique opportunity for flood-impacted property owners to fund property cleanup, private road repairs, individual lot flood mitigation, and other flood-related projects on private property that cannot be provided by either the District or the County,” said Lucinda Andreani, Coconino County Flood Control District Administrator and Deputy County Manager. “With the SBA’s extremely low interest rates, these loans should be seriously considered since no other funding source is or likely will be available to assist with flood impacts to private property.”
Andreani added that SBA loans would be especially useful for private road repairs as the Small Business Administration also can assist residents with the process of forming a road association to facilitate project cost-sharing among properties owners. “This is a tremendous opportunity for neighbors to work together to address impacts to private roads since the County cannot legally provide any repairs.”
The Schultz/Pipeline Flood Disaster Area qualified for the SBA post-disaster low-interest loan program late this summer. To date, 39 loan applications have been received, 16 of which were approved for a total of $676,000. Thirteen applications are currently pending. Approved applicants still have 60 days to decide whether or not they want to proceed with the loan. The Small Business Administration, not the County Flood Control District, is managing this program.
With the loan deadline now less than three weeks away, Schultz/Pipeline Flood Area residents are encouraged to submit their applications as soon as possible. Although loan applications are still being processed relatively quickly, this is expected to change soon and take much longer as SBA will be managing very large numbers of loan disaster loan applications from hurricane-impacted communities in Florida and along the Gulf Coast.
Schultz/Pipeline Flood Area residents interested in the Small Business Administration’s (SBA) Disaster Loan program can apply online, receive additional disaster assistance information, and download applications at https://
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November 02, 2022 at 12:05AM
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SBA Low Interest Loan Deadline Fast Approaching for Schultz/Pipeline Flood Area Residents | Arizona Emergency information Network - az.gov
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