Although the Small Business Administration (SBA) Outreach Center in Alexandria will be closing August 11, Otter Tail County residents and business may still apply for low-interest loans online or by mail for damages, cleanup activities, and economic injury resulting from severe weather on May 29-30.
Loans of up to $200,000 for homeowners and $2 million for businesses and private nonprofit organizations are available to repair or replace disaster damaged or destroyed real estate, as well as assist with debris removal. An additional $40,000 loan is available to homeowners and renters to repair or replace personal property. Applicants may also be eligible for loan-amount increases for mitigation purposes, to help protect property and occupants from future damages caused by a similar disaster.
For more information about the program and available assistance, go to disasterloanassistance.sba.gov or call (800) 659-2955.
SBA Offers Disaster Assistance for Memorial Day Storm Damage