Low-Interest Recovery Loan Application Deadline June 29 for Southwest Virginia Residents Affected By Winter Storms and Flooding

June 2, 2015  //  

VDEM Press Release

10501 Trade Court
Richmond, Virginia 23226

FOR IMMEDIATE RELEASE

June 2, 2015

CONTACT: Dawn Eischen
(804)  897-6510 or (804) 674-2400
Dawn.Eischen@vdem.virginia.gov

Low-Interest Recovery Loan Application Deadline June 29 for Southwest Virginia Residents Affected By Winter Storms and Flooding

RICHMOND, Va. – Homeowners, renters, businesses and private, non-profit organizations in southwest Virginia impacted by severe storms and flooding Feb. 14 through March 8 have until June 29 to apply for low-interest disaster loans through the U.S. Small Business Administration (SBA). Those in Wise County and the adjacent counties of Dickenson, Lee, Russell, Scott and the city of Norton are eligible to apply.

Loans up to $200,000 are available to homeowners to help repair or restore their primary home to its pre-disaster condition. Personal property loans are also available to provide homeowners or renters with up to $40,000 to help repair or replace personal property, such as clothing, furniture and automobiles lost in the disaster. In addition, businesses of any size and nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA, to make improvements that help prevent the risk of future property damage caused by a similar disaster.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloan.sba.gov/ela. Disaster loan information and applications may also be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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Be ready. Be willing to help.

Virginia Disaster Relief Fund