LUDLOW, Vt. – The guest speaker for the Sept. 12 Rotary meeting was Stephen Clark, public affairs specialist for the U.S. Small Business Administration (SBA), working to assist victims recovering from the recent flooding in Vermont. In his quest to make sure people know about available resources, Clark has been travelling around the state talking to individuals and groups about the programs designed to assist those in need. As an example, he has spoken to 11 different Rotary groups in Vermont since the first floods on July 10.
He stated that $18.6 million in SBA loans have been awarded to individuals, businesses, and nonprofits for losses caused by physical damage in the State of Vermont. An SBA loan supports people who have limited other options. The date for filing a claim for physical damage has been extended by a month, to Oct. 12, to allow for additional time to report losses.
Economic injury disaster loans are also available for nonprofits and businesses. Examples of economic injuries are losses in sales or income caused by road closures or disruptions, being unable to get supplies, or cancelled reservations because people felt that Vermont was closed.
There are many types of economic injuries which can be claimed at the Business Recovery Center, which will remain open until Oct. 12. Interest rates on these loans are low, varying by circumstance and size of the loss. There is no application fee to apply for a loan. If a loan is awarded, there is no requirement to take it. SBA is trying to award loans within 15 days of receiving an application. People can apply before knowing the amount of insurance payments, to get recovery moving as quickly as possible.
Clark commended Rotarians helping in disaster relief around the country, saying the local touch and boots on the ground are often more important than government assistance. The human touch and hard work of volunteers is often critical immediately after a disaster, Clark said.
Anyone interested in learning more about joining Rotary is invited to contact Kevin Barnes, membership chairman, at 802-228-8877, to receive an invitation to a meeting.