Western Ohio counties eligible for disaster loans

The SBA offers a variety low-interest loans to help businesses and residents recover from the flood.

The disaster declaration makes SBA assistance available in Franklin, Jefferson, Lewis, Lincoln, Marion, Monroe, Montgomery, Pike, Ralls, Shelby, St. Charles, St. Francois, St. Louis, Ste.

Contreras-Sweet made the loans available in response to a letter from Gov. Michael R. Pence on August 13, requesting a disaster declaration by the SBA. Businesses that suffered damage can receive loans up to $2 million to help fix or replace damaged property or provide working capital.The SBA will open a Disaster Loan Outreach Center (DLOC) today at 1289 Boissevain Road in Boissevain to assist with the application process. Loan applications can also be downloaded at www.sba.gov/disaster. Personal property loans are also available for homeowners or renters with up to $40,000 to help fix or replace personal items, such as clothing, furniture, and automobiles.

Interest rates can be as low as 4 percent for businesses, 2.625 percent for private nonprofit organizations and 1.688 percent for homeowners and renters with terms up to 30 years.

U.S. Small Business Administration administrator Marie Contreras-Sweet announced the loans on Thursday in a news release.

The agency has set a deadline of September 28 by which to return applications for property damage and a deadline of April 29, 2016 for economic injury applications.