SBA: $50 million approved for La storm victims
NEW ORLEANS -- The U.S. Small Business Administration says it's approved more than $50 million in low-interest loans to Louisiana homeowners, renters and businesses that received damages in last month's hurricanes.
The SBA is the federal government's main source of funds for aiding in the long-term rebuilding of disaster-damaged private property. Loans of up to $200,000 are available to help homeowners repair or rebuild storm-damaged homes. Up to $40,000 is available to help renters and homeowners fix or replace damaged or destroyed personal property.
SBA also provides loans of up to $2 million for storm-affected businesses and private, nonprofits.
Source:http://www.katc.com/Global/story.asp?S=9199195