The U.S. Small Business Administration is opening an office in Memphis, Tennessee, to make it easier for residents affected by last month’s flooding to apply for disaster loans.
The agency says it is opening a Disaster Loan Outreach Center at the Shelby County Emergency Operations Center on Mullins Station Road.
The Small Business Administration is offering low-interest disaster loans to residents and businesses affected by flooding on Sept. 11 in Crittenden County, Arkansas; DeSoto, Marshall, Tate and Tunica Counties in Mississippi; and Shelby County, Tennessee.
Loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed homes. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses may borrow up to $2 million.
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