New help for small businesses after floods

Posted at 6:39 PM, Aug 22, 2017
and last updated 2017-08-22 19:39:45-04

Many victims of last month's floods were still steamed about FEMA's lack of help.

John Puntillo has owned John's Main Event bar and grill for 33 years. He's still working with his insurance company trying to recover thousands of dollars in damage and losses after having to toss four freezers and a walk in cooler full of food.

“Matter of fact, talked to the insurance adjuster today and it's, it's a struggle,” he said.

But now there’s  another alternative for assistance.

At  Gov. Scott Walker's request,  the U.S. Small Business Administration or SBA has agreed to offer low-interest disaster loans for residents hit hard by July's wall of water. Rates are as low as 1.9 percent for homeowners.

The loans are a helping hand, not a handout,  aimed at getting folks affected, back on their feet.

SBA representative, Richard Butler said, “Families, businesses may not have the resources to recover from the disasters on their own.  So, the federal government has created this arm of the Small Business Administration to offer federal low-interest long term loans to assist those individuals.”

Businesses are eligible for up to$2 million and $200,000 for homeowners as they continue rebuilding.

The SBA has set up temporary offices for about a week, in Walworth, Racine, and Kenosha counties, with staff available to help with the loan application process.

The outreach centers locations and hours are as follows:

Kenosha County – Opening Tuesday, August 22 at 10:00 a.m.
Kenosha County Center
19600 75th Street
Bristol, WI 53104

Racine County – Opening Tuesday, August 22 at 10:00 a.m.
Western Racine County Service Center
Eppers Room
209 North Main Street
Burlington, WI 53105

Walworth County – Opening Tuesday, August 22 at 10:00 a.m.
Walworth County Sheriff’s Office
1770 County Road NN
Elkhorn, WI 53121