MADISON (AP) – Low-interest loans will be available to individuals and businesses that suffered damaged following a string of tornadoes and heavy storms that hit the Grant County area last month.
Gov. Scott Walker announced Tuesday that the U.S. Small Business Administration approved his request for a disaster declaration covering Grant County and the contiguous counties of Crawford, Iowa, Lafayette, and Richland.
Under the disaster declaration, loans up to $200,000 will be available to homeowners to repair or replace damaged or destroyed property. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
Businesses and nonprofit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.