U.S. Small Business Administration offers Disaster Assistance following Gov. Branstad's request

Low-interest federal disaster loans available to residents and business owners; Available in primary counties of Lyon and Sioux, and neighboring counties of Cherokee, O'Brien, Osceola and Plymouth

(DES MOINES) - Following Gov. Terry E. Branstad's request, the U.S. Small Business Administration (SBA) announced that low-interest federal disaster loans are available to Iowa residents and business owners affected by severe weather events that occurred from June 14-23, 2014. The U.S. Small Business Administration acted after receiving the request from Branstad on July 7, 2014.

The SBA assistance is available for residents in the primary Iowa counties of Lyon and Sioux, and the neighboring Iowa counties of Cherokee, O'Brien, Osceola and Plymouth.

Individuals and businesses interested in the SBA disaster loan program may visit the following offices beginning at 10 a.m. on Tuesday, July 15, 2014, to get more information:

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

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

Interest rates can be as low as 2.188 percent for homeowners and renters, 2.625 percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant's financial condition.

Applicants may apply online at https://disasterloan.sba.gov/ela. Disaster loan information and application forms are also available from the SBA's Customer Service Center by calling 1-800-659-2955 or by emailing disastercustomerservice@sba.gov. Individuals who are deaf or hearing of hearing may call 1-800-877-8339.

The filing deadline to return applications for property damage is September 8, 2014.

Information in this release was provided by SBA press release. Find more information and view the release in its entirety here.