Loans Available for Victims of December Flooding

Bentley says loans are available through the Federal Small Business Administration for victims of the flooding event in December
Flooding pic
MONTGOMERY, Ala. (AP) – Alabama Gov. Robert Bentley says loans administered through the federal Small Business Administration are available to help victims of late December storms repair damage to their property.
Bentley said in a statement Friday that low-interest loan assistance has been approved for more than 20 counties — including Jefferson, Montgomery and Tuscaloosa — based on damage assessments after storms and floods.
Bentley says renters and homeowners may borrow up to $40,000 to replace property or up to $200,000 to replace or repair their home.
Business owners, churches and nonprofits may borrow up to $2 million to replace property, and Bentley says businesses in the disaster area that suffered economic injury may also borrow up to $2 million.
Categories: Montgomery, News, Statewide