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July 17, 2019Rock Port, MO |  By: Lily Lopez

SBA to offer low-interest federal disaster loans

Businesses and residents affected by the severe storms and flooding from March 11 - April 16 can apply for a low-interest federal disaster loan. The Small Business Administration offers assistance to businesses, nonprofit organizations, homeowners and renters. Public Information Officer for SBA, Bill Koontz, said they will be opening a disaster outreach loan center in Rock Port to assist those in the area.

"The SBA disaster declaration, which does not involve FEMA, is for the primary counties of Andrew, Atchison, Buchanan, and Holt.  We also can help someone in the continuous counties that touch those four counties, so that includes counties in Iowa, Kansas, and Nebraska as well as the four in Missouri.  And also continuous counties in Missouri." 

Koontz urges anyone who thinks they may be eligible to call and evaluate their options.

"The interest rates for these disaster loans can be as low as 2.063% with payments up to 30 years.  There is no cost to apply.  And if you apply and we approve a loan for you, you don't have to accept it.  If you like the terms of the loan, if you want to accept it, you can.  If you decide you don't want the loan, we'll give you six months to change your mind and come back."

For more information, visit the outreach center in Rock Port located at the MU Extension located 201 Highway 136 East, visit www.sba.gov and click disaster assistance, or call 800-659-2955.