SBA Offers Disaster Loans In Va's Eastern Shore

RICHMOND, Va. (AP) â¿¿ Homeowners and businesses along Virginia's Eastern Shore can receive low-interest loans to help them recover from Superstorm Sandy.

The U.S. Small Business Administration is making the disaster loans available.

The Federal Emergency Management Agency previously denied Gov. Bob McDonnell's request for individual assistance.

SBA loans are available to individuals, renters and businesses in Accomack and Northampton counties. An SBA office will be open from Tuesday through Dec. 20 at the Eastern Shore Fire Training Center in Melba, except for next Sunday when it will be closed.

Homeowners can receive loans up to $200,000 for repairs or replacement of real estate and up to $40,000 for personal property. Businesses and nonprofit groups can borrow up to $2 million.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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