The Sequoyah County Commissioners met Monday, July 8, at the courthouse in Sallisaw, and approved a Memorandum of Understanding between the Cherokee Nation and the Sequoyah County District 3 for Sequoyah’s Cabin Road.
The commissioners also approved a plan for the McKey Fire Department to surplus a brush truck and transfer it to Central Fire Department. In other business, the commissioners approved the transfer of appropriations from the Excise Board Personal Services account to the Excise Board Travel account.
Louise Porter, a public information specialist with the U.S. Small Business Administration Disaster Assistance team, said the Federal Emergency Management Agency (FEMA) opened a recovery center in Gore on Friday for residents there who need help.
Moffett’s recovery center has temporarily closed, said Steve Rutherford with Sequoyah County Emergency Management.
Porter said that FEMA offers several loans for businesses and homeowners trying to rebuild after May 2019’s devastating flooding, including a Business Physical Disaster Loan, Economic Injury Disaster Loan and Home Disaster Loan.
Those interested in applying for these loans are required to have an established credit history, have the means to repay the loan, and must put up collateral for loans of more than $25,000.
The loans offer interest rates as low as 1.9%. The maximum home loan is $200,000 for the repair or replacement of real estate and $40,000 to repair or replace personal property. Secondary homes, personal pleasure boats, airplanes, recreational vehicles and similar property are not eligible unless used for business purposes.
Business loans are available for a maximum of $2,000,000. Most loans carry a 30-year repayment schedule, but the law restricts businesses with credit available elsewhere to a maximum 7-year payoff.
The commissioners’ next meeting is Monday, July 15.
Laura Brown, Staff Writer
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