SBA approves $27-million in loans for Iowa flood victims

DES MOINES, Iowa- The Small Business Administration is releasing new disaster loan numbers for Iowa. The S-B-A has approved more than 300 loans for those impacted by Missouri or Mississippi River flooding.

Bill Koontz tells WHO Radio news 286 home loans 20 business loans haven approved, for a total of $27.5 million. He say the loans are for those with little or no insurance. The loans can also cover personal expenses, damaged by the flood, including damage to vehicles.

He says the amount you can borrow is based on your personal losses. Homeowners can borrow up to $200,000. There's a $40,000 cap for personal property, for homeowners or renters. Business can borrow up to $2 million.

The deadline to apply is July 1st.

The loans are available for those in counties covered by the Presidential disaster declaration: Woodbury, Monona, Harrison, Pottawattamie, Fremont, Mills, Shelby, Scott, and Louisa counties.

Applications can be done on line, at www.sba.gov/disaster or by calling 1-800-659-2955.

Thousands of Iowans apply for FEMA flood grants
Thousands of Iowans apply for FEMA flood grants

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