FEMA Announces Eight Municipalities Approved for $39 Million in Community Disaster Loans - Insurance News | InsuranceNewsNet

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May 25, 2018 Newswires
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FEMA Announces Eight Municipalities Approved for $39 Million in Community Disaster Loans

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GUAYNABO, Puerto Rico, May 24 -- The U.S. Department of Homeland Security's Federal Emergency Management Agency issued the following news release:

FEMA approved more than $39 million in low-interest community disaster loans to help eight municipalities continue essential operations while focusing on their long-term recovery from hurricanes Irma and Maria.

The municipalities approved for $5 million each are: Aguadilla, Cabo Rojo, Canovanas, Carolina, Manati, Mayaguez, and Penuelas. The municipality of Orocovis is approved for $4.1 million.

In April, FEMA approved more than $53.7 million in community disaster loans for 12 municipalities. The municipalities of Bayamon, Caguas, Humacao, Juncos, Ponce, Toa Baja and Trujillo Alto have been approved for $5 million each. Rio Grande has been approved for 4.65 million, Sabana Grande for 2.47 million, Salinas for 2.97 million, San Lorenzo for 3.7 million and Yabucoa for 4.9 million.

The loans will provide municipalities with the resources and flexibility to continue delivering essential services to their communities while they recover from the storms.

Loan applications are pending for additional municipalities to help with their essential functions.

President Trump signed supplemental appropriations funding on Oct. 26 permitting the transfer of up to $4.6 billion to FEMA's Community Disaster Loan Program.

Hurricanes Irma and Maria made landfall in Puerto Rico in September, with Maria coming ashore as a Category 5 two weeks after Irma. For more information on Puerto Rico's recovery, visit fema.gov/disaster/4339.

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