THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, August 31, 1995 TAG: 9508310467
SECTION: LOCAL PAGE: B3 EDITION: NORTH CAROLINA
SOURCE: ASSOCIATED PRESS
DATELINE: RALEIGH LENGTH: Short : 32 lines
Gov. James B. Hunt Jr. has asked the Small Business Administration to grant low-interest loans to homeowners and business owners affected by last weekend's heavy rains.
Remnants of Tropical Storm Jerry doused the state with rain, forcing rivers and streams out of their banks, flooding adjacent homes and businesses. Although final damage estimates are not in, a preliminary survey by state and local officials say 343 dwellings and five businesses were damaged by the storm.
Of those, 203 homes sustained major damage and 140 were adversely affected, according to the governor's office.
If the loan application is approved, eligible homeowners will be able to get loans of up to $200,000 to repair disaster-damaged homes and up to $40,000 to replace personal belongings such as clothing, furniture and appliances.
Loans of up to $1.5 million would be available for businesses and nonprofit organizations to repair damages to real estate, machinery, equipment, inventory and leasehold improvements.
KEYWORDS: TROPICAL STORM DAMAGE FLOOD DISASTER RELIEF by CNB