The Midwest has seen its share of storms over the past few months, and some affected states are receiving financial help from the federal government. Michigan counties Wexford, Missaukee, Osceola, Lake and several others were declared disaster areas and have been approved by the U.S. Small Business Administration for federal loans to help repair damages, according to MLive.
The bestowed loans will help residents and business owners who have had their homes and shops damaged by the storms and flooding. Along with the federal funding, the SBA will set up Disaster Loan Outreach Centers in the counties where the affected property owners can ask any questions they have about the assistance they are receiving.
Approval for these loans has taken some time. Gov. Rick Snyder originally declared a state of disaster for several counties on April 7 and then amended that list on May 7 to include a few more counties. Mark Watkins, director of the Osceola Emergency Management Department, told CadillacNews.com that more than 25 homes and properties in Osceola county were damaged by the April storms.
Gov. Snyder went on to say that this relief could not have come at a better time.
“Michigan residents and businesses affected by the severe storms and flooding have a long road ahead,” Snyder said. “These loans will bring some relief to those working to recover and rebuild.”
Some counties were not issued federal assistance, which mean business owners will need to dip into their own pockets to pay for repairs. This can be expensive if shop owners do not have business insurance. This coverage can financially and legally protect individuals if their property is damaged. But business owners should look over their deal because in some instances flood insurance is sold separate.
