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UPDATE: SBA disaster declaration approved for Outagamie County


MADISON, WI (WTAQ) - The request for federal assistance to help out small businesses in Outagamie County has been approved.

The U.S. Small Business Administration expedited the ability for those affected by storm damage two weeks ago to apply for low-interest loans.

On August 16, county officials accompanied SBA representatives on a tour of the county’s hardest hit areas and developed plans to establish a Disaster Loan Outreach Center, at which to process assistance applications. 

Outagamie County Executive Thomas Nelson underscored the benefit of the county’s prompt action.

“I’d like to extend my thanks to Emergency Management staff for facilitating the SBA assessment team’s ground-level review last Friday,” Nelson said. “Thanks to Governor Walker for requesting the disaster declaration and to the SBA for their prompt, affirmative response.”

The SBA offers low-interest loans to help qualified victims pay for damages and for economic hardships incurred from natural disaster.

Other counties are also eligible including Brown, Calumet, Shawano, Waupaca, and Winnebago Counties, which are contiguous to Outagamie County. 

“If you rent or own your own home or your business suffered damage during the storm, you may be eligible for a low-interest loan,” Governor Scott Walker said in a statement.  “These loans will help in the recovery by allowing people to begin much-needed repairs.”

Loans up to $200,000 will be available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.  Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Assistance efforts continue through the county’s additional service branches.

On August 7, storms spawned six tornadoes, five of them in Outagamie County. Officials there estimate more than $30 million in damage.