Sunday, July 12, 2009
SBA Approves $3.7 Million In Loans As Application Deadline Approaches
The U.S. Small Business Administration has announced the approval of over $3.7 million in low-interest- rate disaster loans to Kentucky homeowners, renters and businesses who sustained losses from severe weather and flooding from May 3rd. through May 20th. Disaster loans up to $200,000 are available to repair or replace primary residences, and up to $40,000 to repair or replace personal property. If a borrower doesn't know how much of their loss is covered by insurance or other sources, the SBA will consider a loan for the total loss, provided the borrower agrees to use insurance proceeds to reduce or repay the loan. The physical loan application deadline is July 28th. The deadline for economic injury applications is March 1,2010.
# posted by Homer Owens @ 2:55 PM 
