WHATCOM COUNTY, Wash. – It may seem like a distant memory, but many people in Whatcom and Skagit County still haven’t recovered from the Super Bowl Flood in early February.
Now the Small Business Administration is announcing low interest loans for businesses, homeowners and renters who were impacted.
Cynthia Cowell with the SBA says businesses can get loans of up to $2 million and homeowners up to $200,000.
Homeowners and renters can also borrow up to $40,000 to repair or replace personal belongings.
Rates for the loans are as low as 3.75% for businesses, 2.75% for homeowners and 1.563% for renters and terms are up to 30 years.
Cowell says it’s important for those with damage to start the application process even if they decide later to not take the loan.