Gov. McDonnell Requests Low-Interest Loans for Recovery from Tropical Storm Lee

Huntington FloodingGovernor Bob McDonnell today asked the U.S. Small Business Administration (SBA) to make emergency low-interest loans available to homeowners, renters and business owners in Fairfax County who sustained major damage from the remnants of Tropical Storm Lee Sept. 8-9.

The SBA can provide real property loans of up to $200,000 to homeowners to repair or restore their primary home to its pre-disaster condition. The agency also can authorize personal property loans 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 for loss of business.

Read more details from the Virginia Department of Emergency Management.

Follow

Get every new post delivered to your Inbox.

Join 29,456 other followers