Va. Wants Federal Loans for Irene-Impacted Areas

State officials are requesting low-interest loans from the federal government for homeowners, renters and business owners in Petersburg and New Kent County who suffered major damage from Hurricane Irene.

The loans would be from the U.S. Small Business Association.

Michael Cline, state coordinator of emergency management for the
state Department of Emergency Management, says the loan program can provide a level of needed assistance.

If the state's request is approved, then people in adjacent areas also would be eligible to apply for the low-cost loans.

If the program is approved, homeowners could be eligible for loans of up to $200,000 to restore a primary home to its pre-disaster condition.

Businesses could apply for loans of up to $2 million to help repair or replace damaged property.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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