Southwest Washington flood victims eligible for disaster loans

Washington residents in a number of counties are eligible to use for loans that can be utilized to make repairs on flood-damaged houses and companies.

Residents in a number of Washington counties are eligible to use for catastrophe loans that can be utilized to make repairs on flood-damaged houses and companies following a catastrophe declaration by the Small Business Administration (SBA).

Flooding hit several southwest Washington counties in early to mid-January following snowmelt and heavy rainfall throughout the area. Many rivers rose above flood stage and remained there for a number of days, inundating close by communities.

Help is accessible in Cowlitz, Grays Harbor, Lewis, Pacific, Pierce, Skamania, Thurston, Wahkiakum and Yakima counties.

Companies and personal nonprofit organizations can borrow as much as $2 million to restore or substitute broken buildings, equipment, tools, stock and different enterprise property, in response to the SBA.

Catastrophe loans of as much as $200,000 can be found to householders to assist with the price of repairing or changing houses. Owners and renters might qualify for $40,000 loans to restore or substitute broken or destroyed private property.

Further loans to assist with the price of enhancements to attenuate future flood injury are additionally accessible to householders and enterprise homeowners.

The deadline to use for property injury is April 18, 2022. The deadline to use for financial harm is Nov. 15, 2022.

Rates of interest might be as little as 2.83% for companies, 1.87% for personal non-profit organizations and 1.43% for householders and renters with phrases as much as 30 years.

Go to the SBA’s website to study extra in regards to the loans and begin an software.

SBA customer support representatives will likely be on the Lewis County Courthouse beginning Thursday, Feb. 17 to reply questions in regards to the catastrophe mortgage program, clarify the applying course of and assist those that are eligible full their purposes.

The middle will likely be open Monday via Friday from 8 a.m. to five p.m. till March 3.

Source : king5.com

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