Federal disaster loans for Iowa flood victims


DES MOINES, Iowa – The U.S. Small Business Administration is now offering disaster assistance for people in nine Iowa counties affected by severe weather and flooding in September.

Gov. Terry Branstand says the SBA has approved his request for help for Cerro Gordo, Floyd, Black Hawk, Bremer, Butler, Chickasaw, Franklin, Grundy and Hardin counties.  That will make residents and businesses eligible for low-interest federal disaster loans.

Branstad requested SBA assistance after it was determined Iowa did not qualify for a presidential disaster declaration because the number of homes that suffered major damage or were destroyed by storms and high water between Sept. 21 and Oct. 3 fell far below the threshold for Federal Individual Assistance.

SBA representatives will be at the Disaster Loan Outreach Center in Butler County until Oct. 25 to answer any questions and assist with paperwork.  The center is located at North Butler Elementary School in Greene.

Loans of up to $2 million will be available for businesses and nonprofit groups — homeowners could get up to $200,000 and renters are eligible for loans of as much as $40,000.  The deadline to apply for property damage is Dec. 12.  Economic injury claims must be made by July 11, 2017.

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