FEMA President VT Disaster Approval


On Sep. 26, FEMA reported president approved VT major disaster.


  • FEMA reported President approved major disaster declaration for the State of Vermont.
  • Assist areas hit by severe storms, flooding, landslides, mudslides from Jul. 29 to 31.
  • Eligibility
  • Makes funds available to impacted persons in Caledonia, Essex, Orleans counties.
  • Assistance includes grants for temporary housing, home repairs, loans to cover uninsured property losses, programs to help individuals, business owners recover.
  • Federal funding is also available to state, tribal and eligible local governments and certain private nonprofits on a cost-sharing basis for work, repair damaged facilities.
  • Funding also available on cost-sharing basis for hazard mitigation measures Statewide.
  • In Sep. 2024, FDIC issued guidance to help in the recovery in Vermont, see #228041.
  • Sep. 2024 SBA Offered Disaster Aid
  • On Sep. 27, 2024, SBA made disaster loans available to business and residents in VT.
  • Declaration covers Caledonia, Essex and Orleans counties for physical, economic injury
  • Small businesses and most private nonprofits in designated adjacent counties are eligible to apply only for SBA Economic injury disaster loans (EIDLs).
  • Counties are Franklin, Lamoille, Orange and Washington in VT; Coos, Grafton in NH.
  • Businesses, private nonprofits may borrow up to $2mn to repair or replace disaster-damaged real estate, machinery and equipment, inventory, and other business assets.
  • For small businesses, agricultural cooperatives, businesses engaged in aquaculture and most private nonprofits, SBA offers EIDLs to help meet working capital needs.
  • EIDLs are available regardless of whether the business suffered any physical damage.
  • Disaster loans up to $500k to homeowners to repair disaster-damaged or destroyed real estate; homeowner/renters eligible for up to $100k replace personal property.
  • Filing deadline for physical damage is Nov. 25, 2024; deadline for EIDLs Jun. 26, 2025.

Regulators FEMA
Entity Types CNSM; Corp
Reference SBA: PR 24-692, 9/27/2024; FEMA: PR HQ-24-208, 9/26/2024
Functions BCS; Compliance; Financial; Legal; Operations; Risk
Countries United States of America
Category
State
Products Corporate; Loan
Regions Am
Rule Type Final
Rule Date 9/26/2024
Effective Date 11/25/2024
Rule Id 227877
Linked to N/A
Reg. Last Update 9/27/2024
Report Section US Consumer

Last substantive update on 10/02/2024