Wednesday AM November 19th, 2008

The Small Business Administration has approved more than 304-million dollars in low-interest disaster loans after Hurricane Ike. Jack Williams reports.


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image of houseMost of those loan approvals, about 270-million dollars worth, involve damaged homes. Another 35-million has gone to small businesses. The SBA’s Olivia Humilde says the loans are attractive to homeowners and businesses that need cash for repairs after Ike.

“There is no cost to apply, so if your home has been damaged and you are looking for some sort of funding to help you repair that home, then SBA may be an option for you in terms of low interest. Up to $200,000 for homeowners, up to $40,000 for renters and up to $10 million for business owners.”

She says the deadline to return loan applications is December 12th.

“So we do encourage you if you have a nearest disaster recovery center closest to you or a disaster loan outreach center to make sure that you visit the center and we have SBA representatives to help you complete that application.”

The SBA customer service number is 1-800-659-2955 or on the web at

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