June 3, 2013
SBA loans open to Lewiston fire victims
Property owners looking to rebuild after fires destroyed 10 buildings in Lewiston will be able to apply for low-interest federal loans that Mayor Robert MacDonald said will help the city rebuild.
Karen Mills, administrator for the U.S. Small Business Administration, announced Friday that residents and businesses affected by the fires could qualify for loans of up to $200,000 to repair or replace damaged or destroyed real estate, according to the Sun Journal.
Homeowners and renters could also qualify for loans of up to $40,000 to replace damaged or destroyed personal property. Interest rates on the loans range from 1.875% to 4% annually.
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