BOSTON – Senators John Kerry and Edward Kennedy, along with Congressman John Tierney today urged the Administrator of the U.S. Small Business Administration to immediately make low interest loans available to those affected by the massive fire that ripped through a Peabody apartment complex last week.

Governor Deval Patrick officially declared the site a disaster area earlier today, paving the way for Kerry, Kennedy and Tierney to push for federal low-interest loans.

“The victims of the Peabody fire, whose lives were turned upside down, deserve our immediate help. By providing low-interest federal loans, those who lost everything can begin the process of getting back on their feet in the quickest possible way. Senator Kennedy, Congressman Tierney and I will continue to do whatever is necessary to ensure that homeowners and business owners are given every chance to pick up the pieces and rebuild,” said Senator John Kerry, Chairman of the Senate Committee on Small Business and Entrepreneurship.

Kennedy spokesperson Melissa Wagoner said, “We must do all we can to help the victims of this devastating fire resume their lives. Providing these loans is an essential first step.”

“Providing these low-interest loans is critical to help residents and local businesses recover from the huge fire at Peabody’s Highlands at Dearborn complex. I will keep working with Senators Kennedy and Kerry to help those who were affected,” said Congressman John F. Tierney (D-Salem).

Last month, both the U.S. Senate and House enacted into law legislation authored by Senator John Kerry to improve and expedite financial assistance to businesses and homeowners devastated by disasters. Since 2003, nearly 1,700 Massachusetts residents have received over $64 million in low-interest loans from the federal government after a disaster – including floods, fire and drought.

The text of the letter is as follows:


June 4, 2008


The Honorable Steven Preston
Administrator
U.S. Small Business Administration
409 Third Street, S.W.
Washington, D.C. 20416


Dear Administrator Preston:

On May 29th, a massive fire that engulfed the Highlands at Dearborn apartment complex in Peabody, Massachusetts, destroyed a four story building and left several hundred residents temporarily displaced. Thankfully, no one was injured in the flames that razed the apartment building; however the number of units that were destroyed clearly falls over the disaster declaration threshold. Preliminary findings report 27 apartments had major damage, 24 apartments had minor damage, and one business suffered minor damage due to the fire.

We are appreciative of the efforts made by Governor Patrick to certify this incident as a physical disaster for the purposes of authorizing federally-administered low interest disaster loans to the victims of the fire. We encourage you to do everything in your power to provide low interest loans through SBA’s disaster assistance program, and to do so as quickly as possible. The victims of the Peabody fire deserve nothing less than a swift and effective response from the federal agency responsible for providing disaster assistance to homeowners and small business owners. We pledge you our support in doing whatever it will take to ensure that the owners of the units destroyed are given every opportunity to rebuild and thrive.

Thank you for your immediate attention to this matter. Should you have any questions, please do not hesitate to contact us or a member of our staffs. We look forward to working with you and with your staff to ensure a speedy recovery for the home and business owners impacted by the fire.


Sincerely,

 
John Kerry Edward Kennedy John Tierney

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