Home Low-interest loans available to help those Impacted by June flooding

Low-interest loans available to help those Impacted by June flooding


virginiaThe U.S. Small Business Administration is offering low-interest disaster loans to homeowners, renters, businesses and private nonprofit organizations, such as charities, churches and private universities, in Alleghany County and five contiguous jurisdictions to help them recover from the impacts of the June flooding.

The declaration covers Alleghany County and the following Virginia localities: the City of Covington and the counties of Bath, Botetourt, Craig and Rockbridge. Greenbrier and Monroe in West Virginia are also covered by the declaration.

“These low-interest loans are critical to helping businesses and families recover from the flooding experienced in June,” Governor McAuliffe said. “Virginia is committed to assisting these communities so families and business owners can recover as quickly as possible. Our administration is working with the SBA to make sure this assistance is provided in the most effective and efficient manner.”

Loans up to $200,000 are available to homeowners to help repair or restore their primary home to its pre-disaster condition. Personal property loans are also available to provide homeowners or renters with up to $40,000 to help repair or replace personal items, such as clothing, furniture, appliances and automobiles.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

The SBA will open a Disaster Loan Outreach Center (DLOC) at 10:00 a.m. Wednesday at the Alleghany County Governmental Complex, located at 9212 Winterberry Avenue in Covington, to assist with the application process. Applicants can apply at the Covington location, online or through the paper application process.

  • Thursday and Friday, 8 a.m. – 5 p.m.
  • Saturday, 10 a.m. to 2 p.m.
  • Closed Sunday July 31
  • The DLOC will close Monday, August 1 at 3 p.m.

Applicants may apply online using the electronic loan application via SBA’s secure website at disasterloan.sba.gov/ela. Disaster loan information and applications may also be obtained by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing) or by emailing [email protected]. Loan applications can also be downloaded at www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.



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