Ohio Storm Victims Could Get Interest Rate Reduction

Small business owners, farmers and other Ohioans affected by severe weather this weekend might be eligible for interest rate reductions on loans to recover or rebuild from the storm damage.

Ohio Treasurer Josh Mandel said he’s made $25 million available through the state’s Renew Ohio & Rebuild Ohio emergency financing programs to help storm victims.

Severe weather on June 29 left hundreds of thousands without power as winds reached 80 mph. Another round of storms struck on July 1.

The treasurer’s office said small business owners and farmers can apply for up to a three percent interest rate reduction on new or existing loans for construction or to improve cash flow. Homeowners who suffered severe damage or loss can also seek a three percent interest rate reduction.