Arizona Receives Over $5 Million in SBA Disaster Loans Amidst FEMA Denial
In the wake of devastating floods that swept through Gila and Mohave counties in September, the federal Small Business Administration (SBA) has announced the allocation of more than $5 million in disaster loans to Arizona. These financial resources aim to support recovery efforts following the estimated $30 million in damages caused by the natural disaster.
The Federal Emergency Management Agency (FEMA) recently declined Arizona’s request for disaster relief, stating that the state should be capable of managing the recovery without federal assistance. This decision, however, has been met with disagreement from state officials, including Governor Katie Hobbs, who is actively appealing FEMA’s ruling. More details on FEMA’s decision can be found here.
Despite this setback, the SBA is stepping in to provide crucial support. Approximately $3 million is earmarked for businesses, while $2 million will aid residents affected by the floods. Chris Stallings, Associate Administrator of the SBA Office of Disaster Recovery and Resilience, noted, “Surpassing $5 million in disaster loans reflects more than just numbers — it represents small businesses reopening, families returning home and communities rebuilding more effectively.”
The SBA is also encouraging those impacted by the floods to apply for additional loans, with the deadline for economic injury applications set for July 10. This financial backing is essential for the communities striving to rebuild and recover after the catastrophic event that has altered many lives.
The aftermath of the floods has left visible scars on the community. Photos from the scene depict widespread damage, including mud-covered vehicles and debris-strewn streets. Residents and volunteers are seen working tirelessly to salvage belongings and restore a sense of normalcy to the affected areas.
As Arizona navigates the recovery process, the assistance provided by the SBA is a vital component of the state’s efforts to overcome the challenges posed by the recent floods.
—
Read More Arizona News
