Gov. Scott Walker asked the U.S. Small Business Administration Wednesday to provide federal low-interest disaster loans for individuals and businesses in La Crosse and Trempealeau counties that received flood damage in July.
Walker’s request for SBA assistance includes Buffalo, Eau Claire, Jackson, Monroe and Vernon counties.
“Many homeowners and businesses need this assistance to help recover from the devastating July floods,” Walker said. “I’m hopeful the SBA will quickly approve my request to provide disaster assistance.”
Earlier this month, SBA officials conducted damage assessments and determined 67 homes and businesses in La Crosse and Trempealeau counties received major damage and more than 160 homes and businesses received minor damage.
If approved, low-interest loans up to $200,000 would be available to homeowners to repair or replace damaged or destroyed homes, while homeowners and renters could be eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Low-interest loans up to $2 million would also be available to businesses for physical damage and economic loss as a result of the flooding.