Residents and Businesses of Tornado Struck Areas can Avails Low Interest Loans

Residents and Businesses of Tornado Struck Areas can Avails Low Interest Loans

A tornado devastated areas of Virginia, Louisiana and Mississippi in February. The governor's office announced that U. S. Small Business Administration (SBA) has made low interest loans available for the homeowners, renters as well as businesses that were damaged by the storm in Appomattox County.

These loans for disaster struck people will be available in counties which are adjacent to Appomattox including Amherst, Buckingham, Campbell, Charlotte, Nelson and Prince Edward. They will also be available in the counties neighboring Essex, including Caroline, King and Queen, King George, Middlesex, Richmond and Westmoreland.

Governor McAuliffe said, "These loans are instrumental in helping the families and individuals affected by tornados rebuild and move forward in the long-term recovery process."

The governor's office is closely working with the SBA to make sure that the residents of Virginia get sufficient amount of aid and support to get them back to normal after the disaster. The assistance includes allocating appropriate resources efficiently so that the communities can reconstruct what's lost and carry on with their lives.

Home owners can avail up to $200,000 for repairing or restoration of their primary home. Up to $40,000, can be received as personal property loan which will allow the homeowners or renters to repair or replace the personal items which were lost to the disaster like furniture, automobiles, clothing and appliances. The amount of loan available to businesses which suffered damage from the storm is up to $2 million. They can initiate repairs and use the money as working capital.