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SBA approves disaster loans for Iowa


The U.S. Small Business Administration has approved more than $11 million in federal loans to help Iowa residents, businesses and nonprofit organizations recover from the severe storms, flooding and tornados that occurred between June 1 and Aug. 31. Sen. Tom Harkin announced that disaster loans of up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residences. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses 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 assets. For more information, go to www.sba.gov/services/disasterassistance. The application deadline is Nov. 12.

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