Low-interest loans offered to flood victims

PALMER — Folks who got flooded out this past fall will be able to take advantage of low-interest loans, according to a declaration from the federal Small Business Administration.

“Let’s say somebody had $15,000 wroth of damages to their homes or businesses and $3,000 was covered under the state grant program. Then they would be able to apply for the other $12,000. But they’d have to pay back that $12,000,” said the Mat-Su Borough’s emergency manager, Casey Cook.

The administration offers loans of up to $200,000 to repair or replace damaged or destroyed real estate and $40,000 to do the same for personal property.

“Businesses of any size and private, nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets,” according to an SBA press release.

The SBA will be in town running Disaster Loan Outreach Centers in early January. All centers not otherwise noted are open 9 a.m. to 6 p.m. Here’s a schedule:

• Jan. 4 to 6 at the Willow Community Center.

• Jan. 7 to 9 at the fire station on Seward Meridian Parkway.

• Jan. 1 from 1 to 6 p.m. and Jan. 11 from 9 a.m. to 6 p.m. at USSI Inc. on Helena Ave. in Talkeetna.

In its own press release, the borough breaks down interest rates as being “as low as 1.688 for homeowners, renters, 3 percent for nonprofits and 4 percent for businesses.”

Cook said that while floodwaters receded months ago, the disaster is still a part of his daily life. Most recently it has entailed touring damaged roads bridges and one public building with the Federal Emergency Management Agency.

“We’ve been out and we did all of the public infrastructure assessments and looked at them all with FEMA and the state,” he said.

The damaged public building was, oddly enough, a fire station. In particular, it was Station 6-1, the big one in downtown Wasilla.

“The wind tore off some of the roof,” Cook said. “The roof was damaged and it leaked.”

He said that other than that he’s been assessing damage and trying to direct residents to the programs that can help.

“It’s just a slow process, especially around the holidays when a lot of people have been out of the office,” he said.

Hopefully it will pick back up after the New Year, he said. FEMA plans to be back this week with its “project worksheets” assessing the damaged infrastructure and what it can help repair.

Contact reporter Andrew Wellner at andrew.wellner@frontiersman.com or 352-2270.