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Low-Interest Loans Approved for Flood Damage

POSTED: Monday, July 30, 2012 --- 12:50 p.m.

MADISON, Wis. (AP) -- Federal low-interest loans for people and businesses that suffered damage during last month's flooding in northwest Wisconsin have been approved.

Gov. Scott Walker announced Monday that the U.S. Small Business Administration approved the assistance for Douglas, Bayfield, Burnett, Sawyer and Washburn counties.

Low-interest loans are available to homeowners, renters and business owners to repair or replace damaged property.

In June, a storm dumped 8 to 10 inches of rain over Douglas County, causing flash flooding that damaged homes and businesses.

Disaster assessment teams reported more than 25 homes and businesses sustained significant damage and uninsured losses of more than 40 percent.

The deadline to apply for the loans is Sept. 25..

AP-WF-07-30-12 1740GMT

Copyright 2012: Associated Press


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