Disaster Loan Outreach Center in Gaylord Closes This Week; Assistance Still Available Online
Gaylord area businesses and residents affected by the deadly May tornado have until July 28 to get one-on-one assistance in applying for a low-interest loan through the federal government.
Customer service representatives will be available at the Disaster Loan Outreach Center, 305 East Main Street, in Gaylord, to answer questions about the disaster loan program and help individuals complete their applications.
The U.S. Small Business Administration is offering business disaster loans up to $2 million. Homeowners can get loans up to $200,000 to repair or replace a primary residence. Homeowners and renters can also get up to $40,000 to repair or replace personal property, such as furniture, appliances and vehicles.
“The interest rate for homeowners and renters is as low as 1.688% with terms up to 30 years,” said Laurie Dana, with the U.S. Small Business Association. “That’s a lot less expensive than replacing your personal property with credit cards.”