Disaster Loans OK’d for Oklahoma Earthquake Damage

December 12, 2011

The U.S. Small Business Administration is offering low interest loans to Oklahoma residents and business owners who have damage from earthquakes that have struck since Nov. 5.

Officials say nearly 200 homes and businesses were damaged when a 5.6 magnitude earthquake struck on Nov. 5. Numerous aftershocks have followed.

Homeowners are eligible for up to $200,000 in loans to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Businesses and private, nonprofit organizations may borrow up to $2 million.

The loans are available to those in Lincoln, Creek, Logan, Okfuskee, Oklahoma, Payne and Pottawatomie counties.

A Disaster Loan Outreach Center is now open at Prague City Hall to take applications.

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