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.