- Associated Press - Friday, October 31, 2014

FRAKNFORT, Ky. (AP) - A disaster declaration has been approved by the U.S. Small Business Administration for heavy rain and flash flooding in August that swamped roads and forced people from their homes in eastern Kentucky.

The declaration opens the door for Kentucky residents and businesses most affected by the severe storms, flooding, landslides and mudslides to apply for low-interest disaster loans from the SBA.

Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and other business assets.

Gov. Steve Beshear requested the declaration, which covers Floyd, Johnson, Knott, Magoffin, Martin and Pike counties.

The filing deadline to return applications for property damage is Dec. 29. The deadline to return economic injury applications is July 30.

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Online: https://disasterloan.sba.gov/ela

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