Two local counties have been declared disaster areas by the U.S. Small Business Administration.
Governor Kim Reynolds made the announcement today.
A total of seven counties, including Buchanan and Fayette, are included in the declaration after severe storms and flooding caused damage and destruction in recent weeks.
Affected residents and business owners in these counties may now apply for low-interest loans from the SBA.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from happening again in the future.
Applicants may apply online at disasterloan.sba.gov or call (800) 659-2955 for more information.