Federal Low-interest Loans Approved in April 2015 for Southwestern Virginia Residents and Businesses Affected by February 2015 Storms and Flooding

Following are the hyperlinked headline and an excerpt from the Virginia governor’s office’s Apr. 30, 2015, news release on federal low-interest loans for residents and businesses of  Wise County and contiguous localities who were affected by winter storms and flooding in February 2015.

Low-Interest Recovery Loans Available to Help Southwest Virginia Residents Affected By Winter Storms and Flooding, 4/30/15.

Excerpt: “…[T]he U.S. Small Business Administration (SBA) has made low-interest disaster loans available to homeowners, businesses and private, nonprofit organizations such as charities, churches, and private universities in Southwest Virginia to help them recover from major damage sustained during February’s winter storms and subsequent flooding.  … Although the SBA request is approved for Wise County, [the counties of Dickenson, Lee, Russell, and Scott] and the city of Norton are also are eligible to apply for these loans, as they are contiguous to Wise County.  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 suffering damage could receive loans of up to $2 million to help repair or replace damaged property and provide working capital for economic injury.”

On May 1, the SBA opened a Disaster Loan Outreach Center at the Wise County Sheriff’s Office in the Town of Wise.

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