Virginia Department of Emergency Management
10501 Trade Court, Richmond, VA 23236
Sept. 23, 2011
FOR RELEASE AT WILL
Low-interest loans available to help with Hurricane Irene damage
The U.S. Small Business Administration has made low-interest disaster loans available to individuals, renters and businesses to help them recover from Hurricane Irene.
Gov. Bob McDonnell requested the SBA disaster declaration for New Kent County and the city of Petersburg; the following adjacent localities are also eligible: the counties of Charles City, Chesterfield, Dinwiddie, Hanover, Henrico, James City, King and Queen, King William and Prince George and the city of Colonial Heights.
Although damage was reported in other localities, the damage did not meet the threshold to qualify for federal disaster assistance.
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
The SBA is opening outreach centers in New Kent and Petersburg to answer questions:
New Kent Visitor Center
7324 Vineyards Pkwy.
New Kent, VA 23124
Opening Sept. 27; hours of operation will be announced later.
100 W. Washington St.
Petersburg, VA 23803
Opening Sept. 29; hours of operation will be announced later.
SBA’s customer service representatives will be on hand at the Disaster Loan Outreach Center to answer questions about the disaster loan program, explain the process, issue and help individuals complete their applications. Businesses and nonprofit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.