RICHMOND, Va. (AP) — Small businesses and nonprofit organizations in 16 Virginia localities are eligible for federal disaster loans as a result of heavy rain and flooding in late September and early October.
The U.S. Small Business Administration said Tuesday that loans of up to $2 million are available. The interest rates are 2.625 percent for nonprofit organizations and 4 percent for small businesses, with terms up to 30 years.
The loans are available in Carroll, Charles City, Floyd, Franklin, Greensville, Henry, Isle of Wight, James City, Patrick, Prince George, Southampton, Surry and Sussex counties, and the cities of Newport News, Franklin and Suffolk.
SBA loan applications: http://www.sba.gov/disaster
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.