SBA offering loans for Lake County flood repairs

Individuals, businesses and nonprofit organizations impacted by the July flooding in Lake County may be eligible for disaster loans from the U.S. Small Business Administration.

The SBA has announced a 15-day grace period to apply for low-interest, physical property damage loans. The filing deadline is Nov. 1.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

The deadline to apply for Economic Injury loans, such as loans to assist small businesses and nonprofits through the recovery period, is May 16, 2018.

Applicants may apply online using the Electronic Loan Application (ELA) on the SBA's website, disasterloan.sba.gov/ela.

Disaster loan information and applications may also be obtained by calling the SBA's Customer Service Center at (800) 659-2955 or by emailing disastercustomerservice@sba.gov.