Help or False Hope for East Ridge?

People in East Ridge are getting a second chance at help after floods wiped out many homes and businesses.

Residents and businesses throughout several counties in our area qualify for loans from the Small Business Administration.

Today people started applying at City Hall.

James Allison has been living in the Super 8 Motel for over a month. The flooding at the Fountain Bleu Apartments forced Allison and many others out.

"We are luckier than a lot of people. At least we have a roof over our head while we are waiting," says Allison.

This afternoon, Allison tried his luck getting a loan at City Hall.

The Small Business Administration offered residents low interest loans to pay for damage to their homes or businesses.

However as Allison found out, there are some restrictions for people on fixed incomes.

"I don't make enough money. I'm on a fixed income. I was discouraged because I was hoping to get some help to replace what I've lost. Just doesn't seem like it's going to be the answer for me." says Allison.

Other than a credit and collateral check, this application has an income test.

If you don't make a certain amount of money each month, your application my be denied.

"Someone who has no money as it is we are not going to offer them more debt. We are here to help them not sink them, says Fred Wagner with the Small Business Administration.

However, Wagner says in the past these loans have helped a lot of people.

Throughout Hamilton County 140 homes and 29 businesses had major and minor damage.

Joann Miller had to move out of her home due to damage but she says filling out this application gives her hope.

"I may qualify and that makes me happy because I need help," says Miller. 

The SBA is encouraging people to qualify anyway.

Representatives will be at East Ridge City Hall until next Tuesday taking applications from 8am until 5pm.