Disaster Funds Set for Calif. Counties Hit by Mudslides

February 24, 2010

The U.S. Small Business Administration has declared five counties in Southern California disaster areas.

The designation will allow property owners in the counties of Los Angeles, San Bernardino, Kern, Ventura, and Orange whose homes were damaged by February’s mud flows to access low-interest loans.

La Canada Flintridge Mayor Laura Olhasso says the declaration the first step in government efforts to help mudslide-affected homeowners recover.

SBA spokesman Richard Jenkins says the declaration makes loans of up to $200,000 available to homeowners to repair their homes, as well as loans of up to $40,000 to replace personal property, with interest rates as low as 2.5 percent

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