SOUTHBURY, Conn. — U.S. Small Business Administration officials met with local leaders in Southbury on Monday to highlight $2.2 billion in new funding for the SBA Disaster Loan Program. The program provides relief for small businesses and homeowners recovering from natural disasters. This funding was included in the Continuing Resolution passed by Congress in December.
With this funding, the SBA can resume processing financial relief for those impacted by natural disasters across the nation, including severe flooding that hit parts of Connecticut in August. President Biden approved a major disaster declaration.
“This is the largest natural disaster since the flood of 1955. We’re building the numbers together on what it’s going to cost, what we’re going to go to FEMA with. We’re also going to have to put together a bond package to pay for it. We have to pay for it upfront to get reimbursed and we’re hopefully going to be reimbursed the 75 percent that …