Homeowners, renters and businesses impacted by the flooding of the severe storms from July 21st to the 27th, may be eligible for low-interest disaster loans through the U.S. Small Business Administration (SBA).
Low-interest loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. SBA regulations permit loans up to $40,000 to repair or replace personal property. Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and assets. Loan amounts and terms are set by the SBA and are based on each applicant’s financial qualifications.
Individuals and business may obtain information and loan applications by calling the SBA’s customer service center at 1-800-659-2955 or my emailing disastercustomerservice@sba.