The US Small Business Administration will offer low-interest federal disaster loans to businesses and residents affected by the Labor Day flooding after declaring a disaster in the state.
The S.B.A. made the declaration in response to a request they received from Governor Jeff Colyer. Their loans are available to businesses as well as homeowners and renters whose property was damaged in the flooding.
The loans are available in Riley, Pottawatomie, Clay, Geary, Wabaunsee, Washington and Marshall Counties.
Businesses are eligible to borrow up to $2 million to replace damaged or destroyed real estate or capital, homeowners can borrow up to $200,000 to replaced damaged or destroyed real estate, and homeowners as well as renters can borrow up to $40,000 to replace damaged or destroyed personal items. Interest rates for businesses can be as low as 3.675 percent and 2 percent for homeowners and renters with terms up to 30 years.
Applicants may apply online, receive additional disaster assistance information and download applications at disasterloan.sba.gov/ela or call the S.B.A. at (800) 659-2955.
The Disaster Loan Outreach Center will be at City Park (former Parks and Recreation office) at 1101 Fremont St.
The office opens was opened today at 8 am, will be open Mondays through Fridays from 9 a.m. to 6 p.m., and will close at 6 p.m. Thursday, Sept 27.
The deadline to apply for property damage is Nov. 13, 2018. The deadline to apply for economic injury is June 14, 2019.
