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Federal Loans for Victims of April Floods

Loans are available to those who suffered non-insured losses due to the severe storms and flooding April 27 and 28. Rod Rice reports that while the loans come from the Small Business Administration they are available to more than just business owners.



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“These loans are for home owners, renters, businesses of any size, as well as private non-profit organizations.”

The SBA’s Mark Randle says the loans are for residents of Harris, Brazoria, Chambers, Fort Bend, Galveston, Liberty, Montgomery and Waller counties.

“The loans are to repair or replace uninsured damages due to the disaster. Homeowners can borrow up to $200-thousand dollars to repair or replace their primary residence and $40,000 for their personal property. Renters can borrow up to $40,000 for their personal property items.”

Randle says businesses can borrow up to $2-million dollars.

“For small businesses and most private non-profit organizations, they can also borrow up to $2-million for working capital.”

You can apply for the loans online or by phone, just goggle SBA customer service for the information. In the Katy area you can go to a recently opened disaster outreach loan center on Franz Road near the intersection with Fry Road. Its open weekdays from 8-to-5.