Disaster loans

Governor Terry McAuliffe requested low interest disaster loans for those who had major damage during the February winter storms.

The U.S. Small Business Administration (SBA) are making these loans available to homeowners, businesses and private, nonprofit organizations such as charities, churches and private universities in Southwest Virginia to help to recover from the storms and the flooding.

 Governor McAuliffe stated that “Virginia is committed to helping these communities get back on their feet on the heels of this disaster. My administration is working with members of the SBA to ensure that this assistance is handled in the most effective and efficient manner.”

The SBA request is approved for  Wise County, Dickenson, Russell, Scott and Lee counties, and the city of Norton.

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 property, such as clothing, furniture and automobiles lost in the disaster.

In addition, businesses suffering damage could receive loans of up to $2 million to help repair or replace damaged property and provide working capital for economic injury.
The SBA will open a Disaster Loan Outreach Center (DLOC) at the Wise County Sheriff’s office (5605 Patriot Drive, Wise, VA) to assist local residents with the process of applying for the loans. The DLOC will open on Friday, May 1st, with hours of 9am-6pm on weekdays and 9am-1pm on Saturdays. The DLOC will be closed on Sunday.

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