County qualifies for disaster loans

Low-interest federal disaster loans are available to Marion County businesses, nonprofits, and residents with losses from storms and flooding June 3 to 7.

Businesses and nonprofits may borrow up to $2 million to repair or replace real estate, equipment, inventory, and other assets.

Homeowners and renters may borrow up to $100,000 to replace or repair clothing, furniture, cars, appliances, and similar items. Homeowners also may apply for up to $500,000 to replace or repair a primary residence.

Loans may increase by up to 20% for addition of mitigations such as new storm windows.

Farmer and ranchers generally are ineligible.

Rates can be as low as 2.81% for individuals to as low as 4% for businesses for terms of up to 30 years.

Applications are available until July 24 in the former driver’s license room of the Butler County courthouse, 205 W. Central Ave., El Dorado.

More information is available at (800) 659-2955 and disastercustomerservice@sba.gov.