Loan interest loans available for victims of Nor'easter

BOSTON (AP) - The Small Business Administration approves a disaster declaration for Essex, Middlesex and Suffolk counties in the wake of last month's nor'easter.

The agency will provide long-term, low-interest infrastructure loans of up to 200-thousand dollars for homeowners and one-point-five million dollars for businesses.

The money will help bridge gaps that may exist in insurance coverage.

Similar loans for personal property are capped at 40-thousand dollars for homeowners and renters.

Governor Patrick filed the request for help, estimating that rainfall and flooding caused more than ten million dollars in damage to roads, bridges and seawalls in the state.

Source:
http://www.abc6.com/news/dollars_25863___article.html/loans_help.html