Affected by flooding? Help is on the way, thanks to Small Business Administration
MADISON — The U.S. Small Business Administration (SBA) approved on Friday, August 18th Gov. Scott Walker’s request for federal low-interest disaster loans for individuals and businesses affected by flooding in southeast Wisconsin last month.
More than eight inches of rain fell overnight on July 11th in southeast Wisconsin, causing widespread flooding along the Fox River. Thousands of homes and businesses were impacted.
Now, the SBA will open disaster loan outreach centers to help flood victims and businesses obtain information and apply for assistance.
The SBA declared Kenosha, Racine, and Walworth counties, along with the contiguous counties of Jefferson, Milwaukee, Rock, and Waukesha, eligible for disaster assistance.
Homeowners are eligible for assistance in the form of low-interest loans of up to $200,000 to repair or replace damaged or destroyed homes. Homeowners and renters are also for up to $40,000 to repair or replace damaged or destroyed personal property. Low-interest loans of up to $2 million are available to Wisconsin businesses for physical damage and economic loss because of the flooding.