Kaine says federal loans available after Nor'easter

By: | Times-Dispatch
Published: November 25, 2009

Governor Timothy M. Kaine today announced that low-interest loans are available from the U.S. Small Business Administration for homeowners and renters who sustained major damage from the November Nor'easter.

The storm, which began on Nov. 11, caused five deaths and an estimated $70 million in damage, primarily in Hampton Roads.

"I have personally seen the damage this storm caused and I know that recovery will be a long and difficult process for those who sustained damage," Kaine said.

The loans will be available to renters and homeowners in the cities of Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth and Virginia Beach and the counties of James City and York.

In times of disaster, homeowners are eligible for Real Property Loans of up to $200,000 to repair or restore a primary home to its pre-disaster condition.

Personal Property Loans can also 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.

Businesses that sustain damage can apply for loans up to $2 million to help repair or replace damaged property as well as for loss of business.

Individuals and businesses can obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), Monday through Friday from 8 a.m. to 9 p.m. EST, or by sending an e-mail to disastercustomerservice@sba.gov.

Business loan applications can be downloaded from the SBA Web site at www.sba.gov/services/disasterassistance.

Completed applications should be returned to the Center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.Virginians may also apply for disaster loans from SBA's secure Web site at https://disasterloan.sba.gov/ela/.

Virginia is still awaiting a decision by the Federal Emergency Management Agency on the governor's request for public assistance to cover eligible government and private non-profit costs for damage to critical infrastructure, debris removal and related emergency services.