Flood victims have only weeks left to apply for federal help

Mayor Karl Dean’s Flood Recovery Team is reminding Nashvillians affected by last month’s historic flood that the July 6 deadline to receive federal assistance is fast approaching.

Flood victims can receive federal financial assistance by applying through the Federal Emergency Management Agency and the U.S. Small Business Administration. The registration to apply for aid through both agencies is July 6.

“It’s important for anybody impacted by the flood who is interested in rebuilding and getting federal assistance to be very cognizant and aware of the deadline,” said recovery team spokesperson Emily Richard.

Assistance from FEMA, which is capped at $29,900 per individual, has largely gone toward home repairs. As of last week, FEMA had received 21,634 registrations for individual assistance in Davidson County, and has issued more than $71 million for housing and other needs.

Aid from the SBA is available in loans with as low as 2.75 percent interest rates for homeowners, which can be paid back over 30 years. Homeowners can qualify for loans capped at $200,000 while businesses can borrow up to $2 million.

The SBA has approved 997 applications, representing more than $46 million in approved loans.

Individuals must apply through FEMA before applying for an SBA loan. To register, visit www.disasterassistance.gov.