Fernando Paredes saw his Mirrormont home surrounded by massive fallen trees after a bomb cyclone struck the week before Thanksgiving. While his house remained intact, the debris blocked his driveway, leaving him stranded. His insurance company refused to cover the cleanup costs, forcing him to take on significant debt. He is now hoping to qualify for a low-interest federal loan through the SBA.
Fernando Paredes stands in his driveway, which was completely blocked following the bomb cyclone that hit the week before Thanksgiving.
In the days that followed, Paredes hired a crew to clear away at least 15 fallen trees, only to find out his insurance company refused to cover the costs. Representatives of the SBA arrived this week to begin setting up a Disaster Loan Outreach Center. People who suffered storm damage will be able to show up there and have their questions answered or get help in applying for financial assistance from the federal government.
SBA can lend up to $500,000 to homeowners to repair or replace their damaged primary residence and up to $100,000 to homeowners and renters who lost personal property, including cars.
Bomb Cyclone Insurance Storm Damage Federal Loan SBA
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