Although Juneau does not qualify for the federal disaster status, an "economic injury" declaration may assist small business owners who are struggling during the disaster. Photo courtesy the AP.
Story Created:
May 19, 2008 at 12:24 PM AKDT
Story Updated:
May 20, 2008 at 8:32 AM AKDT
Alaska has been approved for an Economic Injury Disaster Loan declaration for Juneau. The federal Small Business Administration approved the state's request for a loan of up to $1.5-million at a rate of 4-percent.
Since last month's avalanche, which downed power lines that connect to the city's hydroelectric plant, the city has been subsisting on energy provided by backup diesel generators.
Juneau, said Governor Sarah Palin, did not qualify for federal disaster status.
However the city did qualify for an "economic injury" declaration, which provides business loans, which requires that a minimum of five businesses be affected by the disaster.
