Official: $10.8 million in disaster loans made in Arkansas

July 20, 2019 at 4:06 p.m.

by The Associated Press

Andy Jetullahau, 14, and Will Moates, 16, sit on the back of a truck to secure furniture as residents evacuate, Sunday, May 26, 2019 at the 7400 block of Edgewood Circle in Fort Smith.
Andy Jetullahau, 14, and Will Moates, 16, sit on the back of a truck to secure furniture as residents evacuate, Sunday, May 26, 2019 at the 7400 block of Edgewood Circle in Fort Smith.

LITTLE ROCK — The U.S. Small Business Administration says $10.8 million in disaster assistance loans have been made in Arkansas.

SBA director Tanya Garfield in Sacramento, California, said Friday that the loans are to businesses and residents to help rebuild and recover from severe storms and flooding that inundated western, central and southeastern Arkansas from May 21-June 14.

Businesses and residents in Arkansas, Conway, Crawford, Desha, Faulkner, Jefferson, Lincoln, Logan, Perry, Pope, Pulaski, Sebastian and Yell counties who have damage from the storms or flooding can register for the loans through Aug. 7.

Interest rates can be as low as 4 percent for businesses, 2.75 percent for private nonprofit organizations and 1.938 percent for homeowners and renters with terms up to 30 years.

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