RICHMOND, Va. (AP) - Gov. Bob McDonnell says low-interest federal loans are available to help individuals and businesses in several northern Virginia localities recover from Tropical Storm Lee.
The U.S. Small Business Administration disaster declaration covers Prince William and Fairfax counties. SBA loans are also available in the following contiguous localities: the counties of Arlington, Fauquier, Loudoun and Stafford, and the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park.
Loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans of up to $40,000 to repair or replace personal property.
Business and nonprofit organizations may borrow up to $2 million.