SBA, emergency management and local nonprofits outline disaster aid; FEMA application deadline July 23

Julie Garrett, a public affairs specialist with the U.S. Small Business Administration(SBA) Office of Disaster Recovery, told the Pulaski County Fiscal Court meeting that SBA offers low-interest disaster loans to homeowners, renters, businesses and nonprofits after the recent storms and tornadoes.

"We actually help the majority of our loans go to homeowners and renters," Garrett said, adding that the agency wants to make loans available and simplify qualification. She gave specific rates: "for homeowners and renters ... 2.813%. For businesses, the loans can be as low as 4%. And for nonprofits, the interest rate is 3.625%." Garrett described loan terms of generally 15 to 30 years and said homeowners can borrow up to $500,000 for real-estate repairs and up to $100,000 for contents; businesses can borrow up to $2,000,000 for damaged real estate, inventory, tools and fixtures. She said economic injury disaster…