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Low-interest loans available for Sept.-Oct storms
Comments 0 | Recommend 0LANSING, Mich. (AP) - The U.S. Small Business Administration says Michigan residents and businesses that sustained losses in severe storms in September and October can get low-interest loans.
SBA Acting Administrator Sandy Baruah said Monday the disaster loans are available for damage that occurred Sept. 12-Oct. 14 in southwestern Michigan.
Gov. Jennifer Granholm made a disaster aid request Nov. 7. The disaster declaration covers Allegan, Barry, Branch, Calhoun, Cass, Kalamazoo, St. Joseph and Van Buren counties. The SBA is making available loans of up to $200,000 for damage to real estate and up to $40,000 for property damage.
Businesses and nonprofit groups may borrow up to $2 million.
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