This story was originally posted on MyNorthwest.com
Small businesses and residents affected by the severe December flooding can now apply for low-interest loans, the King County Executive’s Office announced Friday via a news release.
Homeowners and renters are eligible to apply for home and personal property loans, and may borrow up to $100,000 to replace or repair personal property, the news release stated. Homeowners can also apply for up to $500,000 to replace or repair their home.
To apply online, visit the U.S. Small Business Administration’s (SBA) website. The deadline to apply for property damage is April 27 while the deadline to apply for economic injury is Nov. 24.
Eligible small businesses, small agricultural cooperatives, nurseries, and private nonprofit organizations, including faith-based organizations impacted by financial losses directly related to the disaster, can apply to the SBA’s Economic Injury Disaster Loan program.
Two SBA centers will also be available for in-person help. The two centers are located at the Auburn Library and the Fall City Library. They will be open on Mondays from 10 a.m. to 6 p.m., Tuesdays from 12 p.m. to 8 p.m., Wednesdays from 12 p.m. to 8 p.m., Thursdays from 10 a.m. to 6 p.m., Fridays from 10 a.m. to 6 p.m., and Saturdays from 11 a.m. to 2 p.m.
“These SBA loans can be a critical bridge for individuals and families repairing what was damaged and for our small businesses working to stay open and move forward,” King County Executive Girmay Zahilay stated. “We encourage anyone impacted to apply and take advantage of these resources.”
King County executive announces new legislation to fund urgent road, bridge repairs
On Thursday, Zahilay announced new legislation that would expand the allowable use of the Real Estate Excise Tax 2 (REET 2) to fund urgent repairs to flood-damaged roads and bridges. This would allow the county to address repairs more quickly for residents and businesses still struggling with road closures, longer commutes, and limited access.
REET 2 revenue currently funds capital projects in unincorporated King County through the Department of Natural Resources. Zahilay’s legislation would immediately free up funds to address urgent needs from the flooding.
The allowable use would then be sunsetted after one year. The legislation would not change or increase taxes.
“These roads and bridges are vital to the King County communities; they connect linking families to jobs, students to schools, and rural communities to essential goods and services,” Zahilay stated. “Repairing roads and bridges is a top priority as we continue to recover, and this one-time funding solution will allow us to act with urgency to restore access and reconnect communities.”
Flooding caused more than $10 million in damage to county-owned roads and bridges, according to the Road Services Division. The REET 2 revenue is forecasted to collect $18.7 million in the 2026-2027 biennium.
“These funds will provide vital support to unincorporated King County residents and help ensure the infrastructure connecting our rural communities is repaired as quickly as possible,” King County Councilmember Reagan Dunn stated.
If approved by the King County Council, budget numbers would come through with the 1st Omnibus in April.
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