Residents of Saint Croix, Barron, Dunn, Pierce, and Polk Counties in Wisconsin and Washington County in Minnesota with property damaged by the June 28 to Aug. 1 severe storms and flooding have until Oct. 5 to apply for disaster loans from the U.S. Small Business Administration (SBA) for their uncompensated losses._ In times of disaster, the SBA makes low-interest disaster loans to homeowners and renters, non-profit organizations, faith-based organizations, and businesses of all sizes for their disaster-damaged property. The loans are direct from the U.S. Treasury and the interest rate and terms do not change._ Applicants do not have to wait to settle with their insurance company before applying for a disaster loan. Interest rates are as low as 1.25 percent for homeowners and renters, 2.75 percent for nonprofit organizations, and 3

Photo by Claire Straub. percent for businesses, with terms up to 30 years. There is no cost to apply, and no collateral required for loans of $25,000 or less. If approved, applicants can choose to accept a partial amount, and there is no prepayment penalty._ Loan amounts are up to $2 million total for disaster-damaged businesses and eligible nonprofits, including both a physical damage and economic injury disaster loan, $200,000 for homeowners, and $40,000 for renters and homeowners for their damaged personal property, including vehicles. In addition, applicants may apply for an additional 20 percent of their verified losses to make mitigation improvements to prevent damage in future disasters. __ Applications for disaster loans can be made online at_disasterloan.sba.gov. The SBA has dedicated phone lines for this disaster. For application assistance, call 202-803-3307 or 470-363-5936 weekdays between 8 a.m.-5 p.m.,_or email [email protected] For assistance in the evenings or on weekends, call SBA’s Customer Service Center at (800) 659-2955.__