SBA Disaster Office opens for Des Moines flood victims

DES MOINES, Iowa-  Small Business Administration officials are expecting quite a number of  Des Moines residents, hit by the June flood, to take advantage of low interest S-B-A disaster loans.    

Spokesman Berl Kelton tells WHO Radio News the borrowing cap is $200,000 for homeowners and $40,000 for personal property, including vehicles.  Businesses can borrow up to $2 million.   

The typical interest rate for home loans is 1.9 percent, for businesses it's 3.6 percent, with terms up to 30-years.

The deadline to apply is February 11th.  The S-B-A has set up a temporary disaster assistance office in Des Moines at the Polk County Office Building at 2309 Euclid Avenue.  

The office will  be open until December 21st, Monday thru Friday, 8-5.  It will reopen  January 3rd.

For additional information:   800-659-2955 or

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