Low interest loans for Storm Victims - WALB.com, Albany News, Weather, Sports

Low interest loans for Storm Victims

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April 2, 2003

Camilla - Tornado victims can now apply for low interest loans to help them rebuild or repair their homes. Loans with interest rates as low as 2.8% will be made available through the Small Business Administration.

As houses are torn down around her, Susie Spooner's remembers the day the devastating tornado hit. Winds ripped the roof off most of Spooner's home, as she and 15 family members huddled on the bedroom floor. "All of us were piled on top of each other on the floor. Glass was shattering all around us, but we walked away without any injuries."

Behind the house is an empty lot where her daughter's mobile home used to be located. The storm threw the home across the neighborhood and into a pile of other trailers. "I know you can't run from God, but I don't want to live in another trailer," said Kaye Spooner.

Nearly 3 weeks later, the family is starting over. "I spent this morning look for an apartment or a house because we have to move out of the hotel by Monday." After looking for a temporary home, Kaye applied for a Small Business Administration low interest loan.

The SBA offers loans of up to $200,000 to repair damaged houses. "Homeowners and renters can received up to $40,000 to replace personal property. Loans are available for businesses and non-profit organizations as well," said Ronald Morris with SBA.

An upside down flag, a warning of distress, now waves in the area hardest by the tornados. And it is the SBA that is here to help those in distress.

The Small Business Administration has opened a loan assistance office at the Camilla City Hall. The 4th floor office is open weekdays from 9:00AM until 6:00PM.

Posted at 5:10PM by kathryn.murchison@walb.com