Disaster loan deadline approaching

The U.S. Small Business Administration wishes to remind businesses, private nonprofit organizations, homeowners and renters in Michigan of the deadline to submit disaster-loan applications for damages caused by severe storms and flooding Feb. 19- 21.

The deadline to submit applications for physical damage is May 29.

Low-interest disaster loans are available in nearly two dozen counties, including St. Joseph and Cass.

Businesses of any size and nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Meanwhile, loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.

Applicants may apply online at: disasterloan.sba.gov.

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