Cape tornado victims receive federal disaster declaration, qualify for low-interest loans

CAPE CORAL, Fla. – Victims of an EF2 tornado that stuck southwest Cape Coral on Jan. 9 can now qualify for low-interest disaster loans from the U.S. Small Business Administration.

The approval comes after the SBA, at the request of Gov. Rick Scott, issued a federal disaster declaration, which covers Lee, Charlotte, Collier, Glades and Hendry counties.

“The SBA is strongly committed to providing the people of Florida with the most effective and customer-focused response possible to assist businesses of all sizes, homeowners and renters with federal disaster loans,” SBA Administrator Maria Contreras-Sweet said in a statement. “Getting businesses and communities up and running after a disaster is our highest priority at SBA.”

Various loans are available to tornado victims:

• Homeowners can receive loans up to $200,000 to repair or replace damaged or destroyed real estate.
• Homeowners and renters can receive loans up to $40,000 to repair or replace damaged or destroyed personal property.
• Businesses and non-profit organizations can borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofit organizations and 1.813 percent for homeowners and renters with terms up to 30 years, the SBA said. Loan amount and terms are set by the SBA and are based on each applicant’s financial condition.

A disaster loan outreach center will open on Tuesday at the Cape Coral Public Works Building, 815 Nicholas Pkwy. Hours will be 8 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. on Saturday, Feb. 13. The center will be closed Feb. 14-15, and services will conclude on Feb. 18 at 3 p.m.

The filing deadline for physical property damage claims is April 5.

For more information: http://cms4.revize.com/revize/capecoral/tornado_cleanup_info/index.php#.VrfZD_krJph.