Kentucky tornado victims can still apply for federal aid through Small Business Administration

LONDON, Ky. (FOX 56) — Critical financial support is still available for Kentucky homeowners as recovery efforts continue in southern Kentucky after the May tornado, but the deadline is quickly approaching to apply for a loan that will help cover the cost of lingering damage.

Scott Stopher and his wife, Debbie, said the deafening sound of the tornado that ripped through their neighborhood in London is one they’ll never forget.

“It brings tears now to think that 17 people lost their lives right behind us,” said Scott.

“We are very blessed,” added Debbie.

The May tornado destroyed homes across multiple counties in southern Kentucky. The Sunshine Hills area in London was one of the hardest hit areas.

The Stophers’ home was severely damaged, but the structure remained. In fact, it’s the only livable home on its street at the moment.

“On this whole strip, all the way down to the curb, all the way back over, we’re the only people living here,” said Scott. “We’re the only people that have electric.”

The home is now fully renovated, and the Stophers’ totaled truck has been replaced thanks to a loan they received from the U.S. Small Business Administration. The federal organization is offering financial help to homeowners and renters impacted by the tornado.

“Up to a half a million for the structure of the house,” said Jim Accurso, a public affairs specialist with the SBA. “They can get $100,000 for the contents. So, their personal property again, like, including automobiles, books, clothes, and things like that.”

Accurso says interest rates are lower than three percent, and those who receive one don’t have to pay any money toward the loan for a year.

“It’s just been a blessing,” said Stopher. “I mean, we’re able to live and not worry about bills so much because, you know, we can handle them. And that loan really helped in that way.”

So far, the SBA has awarded more than $10 million in loans to Kentucky homeowners and renters in need. Accurso said the organization will also be able to help with mitigation to prevent future storm damage.

“That could be a storm shelter, it could be a sump pump, it could be reinforcing garage doors or things like that,” said Accurso. “But, you know, again, we’re here to help in a number of ways. Come in and see us, and we can explain everything to folks.”

The deadline to apply for a loan is Friday, Aug. 22, but Accurso said there will be a 60-day grace period.

Here is a full list of the application sites:

• KY Highlands Investment Corporation, 440 Old Whitley Road in London
  • Hours: Monday–Friday 9 a.m. to 7 p.m.  (6 p.m. after Aug. 22)

• Pulaski County EOC, 25 Jessie Lane in Somerset
  • Hours: Monday–Friday 9 a.m. to 6 p.m.

• Somerset Community College, 100 University Ave.  in London
  • Hours: Monday–Friday 9 a.m. to 7 p.m., Saturday 9 a.m. to 1 p.m.

• The Center for Rural Development, 2292 S. US Hwy 27,  #300 in Somerset
  • Hours: Monday–Friday 9 a.m. to 7 p.m., Saturday 9 a.m. to 1 p.m.