Hamburg small business owners face uphill struggle after Western Iowa flooding
BPC Staff Apr 26, 2019 | 4:35 pm
<1 min read time
97 wordsAll Latest News, Arts and Culture, Energy, Statewide NewsWith mud caking the floors and mold growing on the ceilings, the Hamburg Inn motel is deserted, and its owners say it could cost up to $1 million to build anew, reports Iowa Public Radio. Small businesses like the Hamburg Inn can receive up to $2 million in loans through the Small Business Administration after disaster, and a spokesperson for the SBA reports that five business loans in Iowa have already been approved for almost $1.2 million after severe flooding in March. Yet, FEMA reports that almost 40% of small businesses affected by disaster never reopen.