MADISON – Governor Scott Walker sent a letter to the U.S. Small Business Administration (SBA) today to request federal low-interest disaster loans for individuals and businesses in La Crosse and Trempealeau counties impacted by flooding in July.
“Many homeowners and businesses need this assistance to help recover from the devastating July floods,” said Governor Walker. “I’m hopeful the SBA will quickly approve my request to provide disaster assistance.”
Earlier this month, the SBA conducted damage assessments in the two counties. SBA officials verified 67 homes and businesses in both counties with major damage and more than 160 homes and businesses with minor damage. The request also includes the contiguous counties of Buffalo, Eau Claire, Jackson, Monroe and Vernon.
If approved, assistance in the form of 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.