West Michigan Residents Affected By Flooding May Now Apply For Low Interest Loans
The flood of 2013 is not grabbing the attention it did weeks ago, but for many it's effects are still being felt.
Beginning today, Michigan residents may now apply for special low interest loans to replace damaged real estate or property.
The loans are being offered by the U.S. Small Business Administration.
SBA.gov explains how it works:
“Loans up to $200,000 are available 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,” said Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta. SBA’s customer service representatives are available at the Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications.
Businesses and non-profit organizations may receive up to $2 million in loans.
The Disaster Loan Outreach Center is located at the Kent County Sheriff Department at 701 Ball Ave NE in Grand Rapids, hours are:
- Tuesday, June 18 - Thursday, June 27 from 8 a.m. to 5 p.m
- Saturday, June 22 from 10 a.m. to 2 p.m.
- Sunday, June 23 - Closed
All Michigan residents and businesses affected by storms and flood from April 7 - April 20 are eligible.