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Video instructions and help with filling out and completing disaster loans small business administration
If you're still recovering from April's tornados there are federal resources available to help families and business owners get back on their feet 10news reporter Magdalo Busan joins us live tonight in Lynchburg where the Small Business Administration is been doing that all week so Magdala what kind of help can people get John people can get financial help I'm here at central Virginia Community College where SBA has posters similar to the one behind me plastered all over campus and in town they want to help people who may still need financial aid apply for low-interest loans David Childress is one of the many families from Ellen who lost their homes in April's tornado his wife and son were both hurt in the storm but are now doing well life is getting back to some sense of normal we have rented a house in the Ealing area and we signed a contract this week to start building a new house today Childress came down to Central Virginia Community College to see what financial help he can get from the Small Business Administration we're like a lot of the families in the ealing area we have insurance but unfortunately the insurance doesn't is not going to cover the complete cost to rebuild our homes so I wanted to find out how you know potentially getting a loan here can help cover some of those gaps at no cost SBA is in Lynchburg ready to help disaster victims such as homeowners renters business owners from the hill city amherst Bedford and Campbell counties apply for low-interest loans we cover things that insurance didn't cover and even if you haven't settled with your insurance company you can apply for a low-interest loan and when your insurance pays you just paid the loan down and the net result is whatever you were uncompensated with SBA representatives say they can provide up to two hundred thousand dollars to homeowners to cover home damaged landscape and debris removal and the interest rate is as low as one point eight one three percent there's no obligation to take the loan if it's offered there's no cost to apply these loans are not through a bank they're from the US Treasury so it doesn't hurt to come talk to the staff here the secant how can how they can't help you SBA will be back at CVCC starting tomorrow and on Friday at 8:00 in the morning for more information on how to apply or whether you qualify go to WS LS calm live in Lynchburg Magdalo Besant 10 News working for you