Richardson residents, businesses and nonprofits that were impacted by the Oct. 20 tornado have until Monday, January 13 (9 a.m. to 6 p.m.) to apply for property damage claims with the U.S. Small Business Administration’s low-interest federal disaster loan program.
A Disaster Loan Outreach Center is set up at the Bachman Lake Branch Library located at 9480 Webb Chapel Rd. in Dallas.
Interest rates can be as low as 3.875% for businesses, 2.75% for private nonprofit organizations and 1.5% for homeowners and renters with terms up to 30 years.
“We encourage residents to come apply. Just come as is, come talk to representatives about their losses, their damage and we will do the rest,” said Susheel Kumar, public information officer with the U.S. Small Business Adminstration.
Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Visit www.disasterassistance.gov for more information or call 800-659-2955.