Federal loans available to repair Q.C. storm damage - East Valley Tribune: Queen Creek & San Tan Valley

Federal loans available to repair Q.C. storm damage

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Posted: Saturday, September 4, 2010 9:00 am | Updated: 2:37 pm, Sun Sep 5, 2010.

Queen Creek homeowners, renters, businesses and nonprofits whose property was damaged by the Jan. 18-22 severe winter storm are eligible to apply for a low-interest federal disaster loan through the U.S. Small Business Administration.

Loans of up to $200,000 are available for homeowners to replace or repair real estate and up to $40,000 for homeowners and renters to replace personal property. Businesses and nonprofits can borrow up to $2 million to replace property, equipment, inventory or other assets. The SBA can lend additional funds to help make improvements that prevent or minimize the same kind of disaster from occurring in the future.

Loan applications for property damage are due Sept. 27 and the deadline for economic injury applications is due April 27. Disaster loan information and application forms are available by calling SBA Customer Service Center toll-free at (800) 659 2955, e-mailing disastercustomerservice@sba.gov or visiting http://www.sba.gov/services/disasterassistance.

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