(St. Paul, Mn.)– The Small Business Administration will offer low-interest loans in 16 Minnesota counties to help replace private property damaged in September floods.
Governor Tim Pawlenty made the announcement Friday. He says the SBA’s disaster declaration will help homeowners, renters, businesses and nonprofits rebuild.
In our area, the declaration includes Jackson, Martin and Watonwan counties.
The Governor’s office says the SBA disaster program makes loans of up to $200,000 available to homeowners to repair or replace damaged real estate. Interest rates are as low as 2.5 percent. More information is available at www.sba.gov.
The Federal Emergency Management Agency has already declared a disaster in 21 Minnesota counties, but the FEMA program is for repairing public property.
(Story from the Associated Press).
