Financial Relief on the Way to Alabama for Tornado Damage

May 20, 2008

Residents and business owners in several northeast Alabama counties will get financial help to rebuild and repair property affected by the severe storms and tornado on May 11.

Officials announced May 16 that beginning May 19 residents of Cleburne, Calhoun, Cherokee, Clay, Randolph and Talladega Counties will be eligible to receive low-interest loans through the Small Business Administration in their recovery efforts.

SBA spokesman Jay McKenna says anyone in those counties who received property damage is encouraged to apply, especially property owners who have no insurance or are underinsured.

Disaster loans of up to $200,000 will be available to homeowners to repair or replace real estate damage and up to $40,000 for personal belongings such as furniture, clothing and vehicles. Business owners and nonprofit organizations can apply for up to $1.5 million.

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