FEMA has approved $131 million in grants, while the U.S. Small Business Administration (SBA) has approved $84.9 million in low-interest loans. Applications must be received by the December date to be considered for assistance from FEMA and the SBA; however, disaster funds will continue to flow beyond that date.
Storm-affected homeowners and renters in Macomb, Oakland and Wayne counties may be eligible for federal grants to help cover various disaster-related expenses including essential home repairs, personal property losses and other disaster-related needs not covered by insurance.
Homeowners are eligible to apply for SBA low-interest loans up to $200,000 to repair or replace disaster damaged primary homes.
- Homeowners and renters are eligible to apply for loans up to $40,000 for replacement of personal property including automobiles.
- Businesses and private nonprofits are eligible to apply for up to $2 million to repair or replace storm-damaged property.
- Small businesses and private nonprofits are eligible to apply for working capital loans.
The SBA loan application deadline is Dec. 15, 2014