Omaha Public Radio News
3:06 am
Wed September 3, 2008

Low-interest loans available for repair, rebuilding after June storm

Omaha, NE – Homeowners, renters, and businesses with property damage from the June 27th severe thunderstorm can apply for low-interest loans.

The Small Business Administration is making those loans available for property repair or replacement. Douglas, Dodge, Saunders, Sarpy, Washington and Pottawattamie County residents affected by the storm can apply for the loans at the SBA's Disaster Loan Outreach Center through September 18th. That center is located at the Omaha Public Library's Millard Branch. Applications are also accepted online.

SBA Nebraska District Office spokeswoman Deborah Wilson says there are two types of loans: physical, which covers damaged real estate and personal property; and economic, which are for small businesses. Residents can not use the loans to pay for damage to secondary homes, personal pleasure boats, recreational vehicles, airplanes, and other similar property are not eligible for coverage under the SBA loans.

The deadline to apply for physical damage loans is November third. For economic injury loans, the deadline is June 2, 2009. It takes about two to three weeks for residents or businesses to receive their loans.

FEMA assistance is not available.