DID YOU KNOW…

If you don’t file for an SBA disaster loan, the assistance process STOPS right there. Disaster officials are urging business owners, who have suffered economic  losses due to the flooding, to complete an SBA disaster loan application and return it immediately. The filing deadline for applications for Economic Injury is March 11, 2009.

Please help spread the word: You can NOT be referred for any other assistance, including FEMA’s other Needs Assistance Grant program unless you return a completed SBA loan application by the deadline. If SBA determines that you can’t afford a loan, you will be referred to other programs for possible grant assistance. You are also under no obligation to accept the SBA loan if you would prefer not to.

For more SBA information, contact 1-800-659-2955 or visit: www.sba.gov

Flood Warehouse Opens in Martinsville:

The Morgan County Emergency Management Agency has secured a building in Martinsville that will be used to store donated items for flood victims. Non-perishable food items, personal hygiene items and baby items such as diapers, formula and baby wipes are needed. EMA is also taking slightly used or new furniture items, but is not taking any more clothing items. If you wish to donate such items, call the Morgan County Emergency Management Volunteer service at 765-352-1454.

EMA Volunteer Service
The Morgan County Emergency Management Agency volunteer call service is open from 9 a.m. to 4 p.m. Monday through Friday, for any resident or property owner who was a victim of the flooding is in need of assistance in cleaning up a home or yard.
Also those flood victims who need skilled labor and cannot to afford to hire someone or cannot do the work themselves may call the volunteer service at 765-352-1454.

Disaster Relief Fund at the Community Foundation of Morgan County, Inc.

The Community Foundation of Morgan County has opened a Disaster Relief Fund to help the long-range recovery in Morgan County . The fund began with lead gifts of $15,000 each from Citizens Bank and Home Bank, followed by donations from several other generous organizations and individuals. Money from this fund will be donated to non-profit organizations and government agencies experienced in distributing and coordinating direct assistance. Donations can be mailed to the Community Foundation of Morgan County at 250 N. Monroe St. , Mooresville. Please be sure to write Disaster Relief Fund in the memo. For more information contact the foundation at (317) 831-1232, toll-free (877) 822-6958 or visit the CFMC Web site at www.cfmconline.org.

State Announces Assistance Program for Flood Ravaged Farmers
State Treasurer Richard Mourdock has unveiled the Treasurer's Conservation Assistance Program (T-CAP). It will help Indiana farmers who have suffered damage to their farmland in the recent flooding. The program provides $50 million of state deposits that will be a source of low cost loans. The money leads to federal matching grants of more than $200 million.

State Treasurer Richard Mourdock announced the establishment of the Treasurer’s Conservation Assistance Program (T-CAP) to provide assistance to Hoosier farmers who have suffered damages to their farmlands due to recent flooding throughout the state.

“Within hours of Hoosier farmlands being flooded in Central and Southern Indiana , Governor Daniels contacted me asking what assistance our office could provide to the farmers affected,” explained Treasurer Mourdock. “To assist in the process of restoring Hoosier farmlands, I am providing $50,000,000 of state deposits that will be a source of low cost loans to Indiana farmers. Under the United States Department of Agriculture (USDA) programs these funds will be considered “local” monies and thus result in federal matching grants of more than $200,000,000. The leveraging of state dollars to help acquire federal monies is a win-win for Indiana farmers.”
“Governor Daniels and I want to make sure our Hoosier farmers have all the resources they need to get back to work,” stated Lt. Governor Becky Skillman. “The restoration aid will help farmers recover from damages and keep our agricultural industry strong.”

The USDA provides federal matching funds through a number of programs. The Indiana State Department of Agriculture (ISDA)’s Division of Soil Conservation works with the USDA to ensure that conservation projects benefiting Hoosier farmers get completed. Specifically, the T-CAP program will provide funding for repair or reconstruction of conservation structures and conservation practices that were destroyed by the flooding.

The $50,000,000 in funding from the Treasurer of State’s Office will be a “linked-deposit” program in partnership with local financial institutions. The Treasurer of State’s Office will purchase certificates of deposit (CD) from local banks at a reduced rate of interest, and in turn the bank will provide a loan to the farmer at a reduced rate of interest. (CDs purchased by the Treasurer of State’s Office will be the Federal Fund Rate – 1.5% with a floor at .50%. Local financial institutions will provide loans to the farmers at 2.25% above the Treasurer’s CD rate.) Rates will be fixed for the one year term of the loan. A loan made today under this formula would result in a cost of 2.75% to the farmer.

“I am pleased the Treasurer’s Office will play a part in helping Hoosiers farmers restore their flood damaged farmlands,” stated Treasurer Mourdock. “I would like to thank ISDA’s Director Andy Miller and his staff, the USDA, and local financial institutions for their willingness to address the flooding emergency in our State.”
For more information about T-CAP, please visit our website at http://www.state.in.us/tos/2829.htm. For assistance with an USDA program, please visit http://www.in.nrcs.usda.gov/contact/directory/field_offices.html or ISDA at http://www.in.gov/isda/2338.htm.
Source: Inside INdiana Business
FROM FEMA:

Get Rid of Mold
Mold gradually destroys the things it grows on. You can prevent damage to your home and office furnishings, save money, and avoid potential health problems by controlling moisture and eliminating mold growth. The U.S. Environmental Protection Agency offers a wealth of online resources on cleaning up after a flood and preventing mold from returning.

IRS: Tax Relief Available
Special tax law provisions may help taxpayers and businesses recover financially from the impact of a disaster, especially when the president declares their location to be a major disaster area. Depending on the circumstances, the IRS may grant additional time to file returns and pay taxes. Both individuals and businesses in a presidentially declared disaster area can get a faster refund by claiming losses related to the disaster on the tax return for the previous year, usually by filing an amended return.

 

question of the week…
Q. I already have a mortgage on my business. Can the SBA refinance my mortgage?

A. In certain cases, yes. The SBA can refinance all or part of prior mortgages, evidenced by a recorded lien, when the applicant: 1) does not have credit available elsewhere; 2) has suffered substantial, uncompensated disaster damage (40 percent or more of the value of the property); and 3) intends to repair the damage. An SBA loan officer can provide you with more detailed information on your specific situation.
Quick Facts
Almost 13,500 Hoosiers have registered with FEMA. About 16-hundred business owners have applied for assistance with the Small Business Administration (SBA). As of June 30th, federal assistance to Indiana storm victims is now almost $48 million. That includes nine million dollars in low interest disaster loans from the SBA.
Disaster Unemployment Assistance
Individuals who are out of work as a direct result of the severe storms and flooding which took place since May 30th may be eligible for weekly benefit payments under the Disaster Unemployment Assistance (DUA) program.
Funded by FEMA, the program is administered by the Indiana Workforce Development. Interested claimants must apply for benefits prior to the July 19th deadline at their local WorkOne center.
Tell Your Employees…
Please share the FEMA, 24-hour telephone registration number with your employees and friends to register for disaster assistance. The tele-registration number is 1-800-621-FEMA (3362) or TTY 1-800-462-7585. Or register online at www.fema.gov. The registration and helpline is open seven days a week, 24 hours a day.
Free Legal Help for Flood Victims
The Indiana State Bar Association has established a toll-free legal aid line for victims of recent flooding in Indiana . Victims who call for legal information will be matched with Indiana attorneys who have volunteered to provide free legal help on matters such as insurance claims, replacing legal documents, home repair contracts and problems with landlords.

Victims facing legal issues may call ISBA at 1-800-266-2581 for free legal information. Please note that the toll-free number will operate Monday through Friday from 8:30 a.m. to 4:30 p.m. EDT. Messages can be left at any time. The service is a partnership between the Indiana State Bar Association and the Federal Emergency Management Agency (FEMA).
Rebuild Stronger, Safer, Smarter
FEMA’s Hazard-Mitigation Road Show is coming to a fair near you! Teams will be on hand to advise homeowners and builders on simple cost-saving techniques to use for rebuilding or new construction. Look for them at the Morgan County Fair:
Morgan County Fair
1749 Hospital Dr ..
Martinsville , IN
June 26 – August 2nd



FROM SBA:

More than $10 million in U. S. Small Business Administration Disaster Assistance Loans have been approved for residents and business owners in Indiana who were affected by the severe storms, flooding and tornadoes that occurred on May 30, 2008 and continuing.

“Currently, 191 home and business disaster loans have been approved in the amount of $10,521,700 for affected victims,” said Frank Skaggs, Director of SBA Field Operations Center East. “We are pleased to be able to get these loans approved so the residents and businesses of Indiana can start rebuilding and begin resuming their normal lives.”

The SBA Disaster Loan Outreach Center in Morgan County is located at Poston Rd. Elementary School , located at 139 E. Poston Rd. Disaster Victims are encouraged to visit the Center before it closes for one-on-one assistance.

Victims are urged to register with FEMA by calling 1-800-621-3362 (FEMA). “If you were issued an SBA loan application, complete and return the application to the SBA, even if you don’t want a loan. If SBA is not able to approve a home loan, you will be referred to FEMA for possible grant assistance. I encourage anyone who has not completed their disaster loan application to meet with one of the Customer Service Representatives at one of the Centers located throughout the disaster area for one-on-one assistance,” Skaggs added.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery, equipment, inventory and other business assets.

The interest rates are as low as 2.687 percent for homeowners and renters and 4 percent for businesses. Loan terms can be up to 30 years. Actual loan amounts and terms are set by the SBA, and are based on each applicant’s financial condition.

Those unable to visit one of the Centers and who have registered with FEMA may obtain an application by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. to 9 p.m. and Saturday and Sunday from 9 a.m. to 6:00 p.m. EDT or by emailing our customer service center at disastercustomerservices@sba.gov. Business loan applications can also be downloaded from the SBA website at www.sba.gov/services/disasterassistance. Completed applications should be returned to the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center , 14925 Kingsport Road , Fort Worth , TX . 76155.

The deadline to return applications for physical damage is August 11, 2008; the deadline to return economic injury applications is March 11, 2009.

Royal Title Services offers special discount to flood victims

Royal Title is offering a special discount to flood victims. Whether you decide to fix, rebuild, or sell your home, we can assist you with your title insurance and closing needs. You may be entitled to a discount of up to 30% on your next owner’s or loan title insurance policy. Please give us a call to see how!

Royal Title Services
128 E. Morgan Street
765-342-0123
martinsville@royaltitle.com

Morgan County EDC to Help Businesses Affected by Flood
John Taylor , the executive director of the Morgan County Economic Development Corp., announced that the EDC will be able to make funds available to the local businesses to help them until they receive their FEMA loans/grants or their insurance proceeds. They will charge a 1 percent fee for the money for the first 90 days and a 4 percent interest rate for the funds beginning at 90 days. This will allow small businesses that need items like computers, cash registers, machinery or the like to get back up and running and not wait for the federal or insurance funds. They have also applied for an additional $100,000 from USDA, which should be available in about 10 to 14 days. Taylor and deputy director Jeff Pipkin can be reached at 317-831-9544.
COMMITTEE FOR FLOOD DISASTER RELIEF BENEFIT CONCERT & SILENT AUCTION TO MEET

If you would like to take part in the planning for the Morgan County Flood Disaster Relief Benefit Concert & Auction, please join Rob Helms and his committee tonight, Wednesday, July 9th, 7:00 p.m. and again, Wednesday, July 16th in the West Middle School Cafeteria.

CAP OFFICE RELOCATED DUE TO FLOOD DAMAGE

Community Action Program
133 W. Washington
Martinsville IN 46151
765-342-1518
Fax 765-342-3460

Action Title Offers Discount to Flood Victims

Action Title is offering a special discount on title needs for flood victims who are either obtaining or refinancing loans, either on their own or through FEMA and the SBA.

Action Title
28 East Morgan St.
(765) 349-1226
Email: Info@ActionTitleLLC.com

Victorian Rose Inn Up & Running – Discount Offered to Relief Workers

The Victorian Rose Inn , located at 80 W. Washington St. in Morgantown , was fortunate and did not suffer any flood damage. They currently have rooms available and will be happy to offer a discount to any relief workers. You may call the Victorian Rose at 812-597- 4606.

Did You Lose Your Business Suits to Flood Damage? Ladies Suits Available….

Linda Carter has generously offered to donate some nice ladies business suits, sizes 14 – 16, to flood victims who need to replace their professional clothes. If you are interested, please call Linda at 765-342-0371.

FOOT SOLUTIONS OF GREENWOOD OFFERS 10% DISCOUNT TO FLOOD VICTIMS

Foot Solutions of Greenwood would be glad to offer any Morgan or Johnson county flood victims a 10% discount towards their replacement purchase of footwear or Orthotics. We would only need to see some verification of their status stating their eligibility. How have you done this with other businesses in the area? My staff and I are all Board Certified Pedorthists and eager to help the communities in any way we can with footwear, Custom Orthotics or our shoe repair and modification service. We are located at 1001 N. State Rd. 135, Suite D, in Greenwood and open Monday through Friday from 10:00am to 6:00pm, Saturdays from 10:00am to 4:00pm.