SBA disaster declaration approved for Outagamie Co.

MADISON (WITI) -- Governor Scott Walker announced Wednesday, August 21st that the U. S.  Small Business Administration (SBA) has declared Outagamie County a disaster area due to storm damage that occurred earlier this month.  Other counties are also eligible including Brown, Calumet, Shawano, Waupaca, and Winnebago Counties, which are contiguous to Outagamie County.

“If you rent or own your own home or your business suffered damage during the storm, you may be eligible for a low-interest loan,” Governor Walker said.  “These loans will help in the recovery by allowing people to begin much-needed repairs.”

Loans up to $200,000 will be available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.  Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

SBA and local officials will be establishing a Disaster Loan Outreach Center to answer questions about the disaster loan program and help individuals complete their applications.