Virginians hit by July floods can apply for government loans

By  | 

RICHMOND, Va. (AP) -- The federal government is making low-interest loans available to residents and business owners in parts of northern Virginia impacted by flooding in early July.

Gov. Ralph Northam's office said in a statement that businesses and private nonprofit organizations may borrow up to $2 million through the U.S. Small Business Administration.

The borrowed funds are meant to help repair or replace real estate, equipment and other assets damaged or destroyed in the July 8 flooding.

Loans of up to $200,000 are available to homeowners to repair or replace real estate.

Homeowners and renters are eligible for loans up to $40,000 to repair or replace personal property.

The administration will be opening outreach centers in Fairfax and Arlington counties this week to answer questions and help individuals complete their applications.