Brown Alerts Jefferson County Homeowners, Businesses to Approaching Deadline to Apply for Federal Disaster Relief Loans

Low-Interest Disaster Loans Available in Jefferson County; Deadline to Apply is Oct. 24, 2016

WASHINGTON, D.C. – (RealEstateRama) — U.S. Sen. Sherrod Brown (D-OH) today alerted Jefferson County homeowners, renters, small businesses, and private nonprofit organizations to federal loan assistance through the U.S. Small Business Administration (SBA) to recover from physical damage caused by recent severe storms and flooding.

“SBA lending opportunities are a lifeline for Ohioans whose homes, properties, or businesses are damaged because of severe weather,” said Brown. “It’s important for Jefferson County homeowners and businesses to take advantage of this opportunity for financial relief to address any damage caused by recent storms and flooding.”

SBA is offering businesses of any size and nonprofits up to $2 million for physical property damage assistance, with rates of four percent for small businesses and 2.625 percent for nonprofit organizations with terms up to 30 years. SBA is also offering low-interest loans up to $200,000 to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. The deadline to apply is Oct. 24, 2016. Small businesses may also be available for economic injury loans with similar terms.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela or by calling SBA’s Customer Service Center at 1-800-659-2955. Loan applications can also be downloaded from the SBA’s website at www.sba.gov/disaster.

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Source: U.S. Sen. Sherrod Brown