Hogan Announces Low-Interest Loans Available For Those Impacted By Hurricane Ida – CBS Baltimore

ANNAPOLIS, Md. (WJZ) — Gov. Larry Hogan on Monday introduced federal approval of a catastrophe declaration that may make low-interest catastrophe loans obtainable to companies, nonprofits, and owners impacted by Hurricane Ida.

The remnants of Hurricane Ida spawned two confirmed tornados over Anne Arundel County that left vital injury to houses and companies. Torrential rain left behind critical flooding in different areas.

READ MORE: Sheetz Raises Tuition Assistance For Employees to $5,250 Annually

The U.S. Small Enterprise Administration catastrophe declaration unlocks low-interest loans for impacted areas in Anne Arundel, Cecil, Montgomery, Baltimore, Calvert, Frederick, Harford, Howard, Kent, and Prince George’s counties and Baltimore Metropolis.

The Governor’s Workplace stated the loans embrace:

• Enterprise Bodily Catastrophe Loans: Loans to companies to restore or change disaster-damaged property owned by the enterprise, together with actual property, inventories, provides, equipment, and gear. Companies of any measurement are eligible. Personal, non-profit organizations corresponding to charities, church buildings, non-public universities, and many others., are additionally eligible.
• Financial Damage Catastrophe Loans: Working capital loans to assist small companies, small agricultural cooperatives, small companies engaged in aquaculture, and most non-public, non-profit organizations of all sizes meet their peculiar and mandatory monetary obligations that can not be met as a direct results of the catastrophe. These loans are meant to help by way of the catastrophe restoration interval.
• Dwelling Catastrophe Loans: Loans to owners or renters to restore or change disaster-damaged actual property and private property, together with cars.

READ MORE: Serious Crash Reported On I-695 Near Pikesville

“I need to thank the federal administration for performing swiftly on our request for this catastrophe declaration, which can make extra help obtainable to companies and owners affected by the storm,” Gov. Hogan stated. “Our administration will proceed to work carefully with native leaders and do every part we are able to to assist owners and companies get well.”

Final Friday, the governor introduced $4 million in relief for owners and companies who suffered damages.

MORE NEWS: Instead Of Quarantine For Covid-exposed Students, Some Schools Are Trying Test-to-stay