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
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.