OUTAGAMIE COUNTY - The U.S. Small Business Administration says it plans to open a Disaster Loan Outreach Center in Grand Chute this weekend to help people applying for disaster relief from the Aug. 7 tornadoes.
The center will be located at the Grand Chute Fire Station, 2250 W. Grand Chute Blvd. It is set to open from 10 a.m. until 2 p.m. on Saturday, and then from 10 a.m. until 7 p.m. next week Monday through Thursday.
People in Outagamie, Brown, Calumet, Shawano, Waupaca and Winnebago counties are eligible for loans to cover their storm damage. The loans were made available after six tornadoes touched down in Northeast Wisconsin. Outagamie County leaders estimate damage there at more than $31 million.
Loans are available for uninsured losses only. They also do not cover secondary homes, personal pleasure boats, airplanes, recreational vehicles and similar property, unless it is used for business purposes. Loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are also eligible for loans of up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates for homeowners range from 1.937 percent to 3.875 percent. Interest rates for businesses range from 4 to 6 percent. Terms of up to 30 years are available.
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