Subscribe RSS FeedLast week, we reported that Governor Mary Fallin of Oklahoma had petitioned for assistance from FEMA after a series of earthquakes struck the state in November, with aftershocks felt throughout the long Thanksgiving holiday. On Monday, it was announced that her request for federal aid had been denied.
Governor Fallin told the press that she was “disappointed,” but that other options will be considered. One of those options is a request to the U.S. Small Business Administration to help residents of Lincoln County in their recovery.
Governor Fallin said that she believes individual assistance is justified because almost 200 homes and businesses have confirmed damage. To that end, she’s asked the SBA for low-interest disaster loans for renters, homeowners and business owners to repair or replace property not otherwise covered by insurance or eligible for any other kind of assistance. Such funding would also help businesses that suffered damage in the quakes.
Gosh, you wouldn’t think many businesses in OK would have commercial insurance coverage that pays out in the event of earthquakes, as they are uncommon in that area. For this reason alone, the federal government should step in and offer SBA loans to those businesses affected.