Deadline nears for small business loans following December tornado

MONTGOMERY, Ala. (AP) - The federal Small Business Administration says March 11 is the deadline for disaster loan applications from people and businesses in 10 Alabama counties and three Mississippi counties affected by severe storms on Dec. 25-26.

SBA field director Frank Skaggs said low-interest loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Loans of up to $40,000 are available to homeowners and renters to replace personal property. Businesses and nonprofit organizations may borrow up to $2 million.

The loan program covers Baldwin, Barbour, Bullock, Coffee, Crenshaw, Dale, Mobile, Montgomery, Pike and Washington counties in Alabama. It covers George, Greene and Jackson counties in Mississippi.

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