SBA Introduces Mitigation Option for Disaster Loan Funds
What happened
The Small Business Administration introduced a Mitigation Option for property owners whose property is damaged in a declared disaster. This program allows property owners to increase their approved SBA physical disaster loan by up to 20 percent of their verified loss. The additional funds are intended for specific physical upgrades that protect the property against future hazards.
From timesrepublican.com
Why it matters
The option provides financial resources to property owners to invest in upgrades that can exceed standard local building codes. This allows property owners to enhance their property's resilience against future risks through targeted physical reinforcements.
From timesrepublican.com
Who's involved
- Small Business AdministrationUnited States government agency offering the disaster loan program
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The entities involved
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Small Business Administration
United States government agency that supports entrepreneurs and small businesses
Related events
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