Low-Interest Loans Available for Tropical Storm Lee Recovery in City of Fairfax
The U.S. Small Business Administration (SBA) will make low-interest disaster loans available to homeowners, renters and businesses who sustained major damage from severe weather in the City of Fairfax during Tropical Storm Lee September 8-9.
The SBA Disaster Outreach Center be open November 16-22 at the Fairfax County South County Government Center, 8350 Richmond Highway, Alexandria.
Monday through Friday
10 am – 7 pm
Saturday, November 19
10 am – 2 pm
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.
In addition, businesses suffering damage can apply for loans of up to $2 million to help repair or replace damaged property, as well as for loss of business.
Interest rates for homeowners and renters range from 2.5-5 percent depending on credit availability. Rates for businesses and nonprofit organizations range from 3-6 percent depending on credit availability.
SBA loans also are available in the counties of Arlington, Fairfax, Fauquier, Loudoun and Prince William, and the cities of Alexandria, Falls Church, Manassas and Manassas Park. Residents from any of the jurisdictions listed above may come to the South County Center; residents from any of these jurisdictions will not be turned away. Click here for the informational flyer.
For more information, contact SBA’s Disaster Assistance Customer Service Center at 800-659-2955
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