SBA pushing landlords to file for Jan. 12 storm aid before deadline

The window of opportunity to apply for disaster relief through the Small Business Administration will close soon.
Published: Mar. 29, 2023 at 10:57 PM CDT
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SELMA, Ala. (WSFA) - Help from the Small Business Administration is set to expire Friday for disaster-affected areas in Alabama.

Representatives from the SBA held a forum at Edmunite Missions in Selma to discuss opportunities for landlords to get assistance on properties damaged by the Jan. 12 tornado.

“It is so important that landlords know that we’re here, we’re here to help, and this money is available if they would apply,” said SBA public affairs specialist Courtney Smith.

Smith said landlords are eligible for loans of up to $2 million with zero interest during the first 12 months. After the 12-month period, landlords would only pay a 3.3% interest rate.

A longtime landlord in Selma, Helene Felton, said all landlords should take advantage of the opportunity to rebuild to help displaced tenants.

“Selma is in dire need,” said Felton. “We were in low rental properties before the tornado. It is now beyond. It’s really bad.”

Felton’s properties in Selma saw significant damage from the tornado. She mentioned her father built those homes over 30 years ago.

The landlord said she hopes to place 10 families in a home by the end of the year, with her end goal being 30-plus families in homes.

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