Low-interest loans are now available for people rebuilding after flooding hit the Valley Sept. 8. The loans come from the Small Business Administration and are available to business owners, home owners and renters.
This is all possible because Maricopa County was issued a disaster declaration for flooding for the second time in about a month. Many homes and businesses were damaged twice by the record rainfall. But SBA spokesman Garth MacDonald believes some people may be hesitant to apply for loans. He said the process is simple and open to anyone affected by the September storm.
"These funds are available whether it’s a small impact or a very large impact," MacDonald said. "If it’s an automobile that isn’t covered by insurance or a renter or some furniture or clothing, or for a homeowner’s primary resident that’s damaged."
People can expect interest rates as low as 2 percent and some borrowers will have up to 30 years to pay them back. People can apply on the SBA website, www.sba.gov, or visit SBA offices in Glendale or Mesa.
apply on the SBA website or visit offices in Glendale or Mesa. Stina Sieg, KJZZ News, Phoenix.
