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Financial Assistance Coming To Help Fix Revere Tornado Damage

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Taken in a neighborhood adjacent to Routes 107 & 16 in Revere. (Image: Mass. State Police)

Taken in a neighborhood adjacent to Routes 107 & 16 in Revere. (Image: Mass. State Police)

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REVERE (CBS) – Help is coming for small businesses, organizations and individuals impacted the recent tornado in Revere.

The federal Small Business Administration will soon make loans available to individuals, families and businesses impacted by the tornado in Revere and Suffolk County, according to the Massachusetts Emergency Management Agency.

Low-interest loans will be available for up to $40,000 to repair or replace damaged or destroyed personal property, according to MEMA. Loans of up to $200,000 will be available to homeowners to repair or replace damaged real estate. Renters can get assistance for personal property including cars.

Also, loans of up to $2 million will be available to businesses of any size to replace their damaged or destroyed business-related property, according to MEMA. Private and non-profit community organizations are also eligible for the loans.

Also, capital loans of up to $2 million will be available to assist small agricultural businesses and agricultural cooperatives to them meet their financial obligations.

SBA customer service representatives will be on hand from Aug. 8 to Aug. 19 to help businesses apply and answer inquiries. The customer service center is located at St. Jeans Credit Union at 184 Shirley Ave. in Revere. Its hours are weekdays 9 a.m. to 6 p.m. and Saturdays 9 a.m. to 1 p.m. The center is closed on Sunday. On Aug. 19, it opens at 9 a.m. and closes at 3 p.m.

Anybody not able to visit the center in person get an application and assistance by calling 880-659-2955. Hearing-impaired residents can call TTY at 800-877-8339 from 8 a.m. to 6 p.m. Monday through Friday.

They can also email disastercustomerservice@sba.gov or visit their website at http://www.sba.gov/disaster.

Applications are available online at https://disasterloan.sba.gov/ela

The deadline for filing an application for physical property damage is Oct. 6, 2014. The deadline for economic related costs is May 6, 2015. The mailing address for applications is SBA – Disaster Assistance Processing & Disbursement Center, 14925 Kingsport Road, Fort Worth Texas, 76155.

The filing deadline to return applications for physical property damage is October 6, 2014.
The filing deadline to return applications for economic injury is May 6, 2015.

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