U.S. Small Business Administration Offers Loans to People Affected by Heavy Snowfall

Small businesses and residential owners can borrow small loans

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By KTVA CBS 11 News
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Story Created: Mar 19, 2012 at 3:15 PM AKDT

Story Updated: Mar 19, 2012 at 3:40 PM AKDT

ALASKA - After tons of snow fell on Prince William Sound this winter, the federal government says it is ready to help.

In Cordova and Valdez, multiple-feet of snowfall caused some buildings to collapse and created havoc across the region.

The Small Business Administration is offering low interest loans to anyone who may have suffered damages as a result of heavy snows that blanketed the area in January.

The loans are available to homeowners, renters, businesses, and non-profits whose buildings or property were damaged by the heavy snowfall.

A homeowner can borrow up to $200,000 to repair or replace their primary residence. Homeowners and renters are allowed up to $40,000 for personal property.

If a business has suffered any combination of property damage or economic injury, businesses may borrow up to $2 million.

To find out more information call (800) 659-295 or click here. To apply for the loan click here.

You can send in a paper application to the U.S. Small Business Administration at: 14925 Kingsport Rd., Ft. Worth TX 76155-2243.
 

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