UPDATED: A Step Forward

Governor Patrick has requested a Small Business Administration disaster declaration for Essex County.

If the declaration is approved then homeowners and business owners may qualify for low-interest loans, according to Gov. Deval Patrick's Office.

Peter Judge of the Massachusetts Emergency Management Agency expects the SBA will announce its decision next week.

If a disaster is declared, the SBA will put in place an outreach program.

Agency representatives will announce a time and place, through the media, for applicants to ask questions about disaster-assistance loans.

Homeowners can borrow up to $200,000 for flood losses.

A loan is not the ideal situation, especially for someone who was facing economic hardship before the flood, said Town Administrator Andrew Maylor.

But it may be acceptable to some who, otherwise, might forgo repairs or be forced to pay for them out of pocket, he said.

As far as the other relief program goes,  FEMA disaster relief grants, Judge said it is unlikely that Essex County will qualify.

FEMA has made no announcement on the relief determination. Typically they only announce a determination if a region qualifies for the aid, he said.

To qualify, the county must have 500 homes that were left uninhabitable by the floods, Judge said.

Last week, MEMA and U.S. Small Business Administration workers surveyed Essex County towns affected by last week’s flash flooding. They spent three days in Swampscott.

The teams examined businesses and residences to document the damage and determine if that level would qualify for SBA programs. 

SBA loans could in some cases be paid back over as long as 30 years and, now, are typically lent at about 3 percent interest.