Springdale tornado victims eligible for low-interest loans.

Homeowners whose primary residence has been damaged are entitled to up to $200,000 more than insurance will pay.

SPRINGDALE, Ark. – Help is here if you or your business was affected by the Springdale tornado.

the Small Business Administration will be set up starting Tuesday, April 26 at 1:00 p.m. inside the Springdale Recreation Center to help people apply for low-interest loans.

“These loans are for homeowners, renters, businesses of all sizes, private nonprofits, so they can really apply to anyone affected by this storm,” Rick Tillery said.

Homeowners whose primary residence has been damaged are entitled to up to $200,000 more than insurance will pay. Renters and owners can get up to $40,000 for personal property, including a vehicle.

“We have self-explanatory physical disaster loans when you have damage to your structure or primary residence or business or office for your non-profit organization. We also have economic disaster loans that act as working capital loans to help these businesses and nonprofits get back on their feet after suffering from this disaster,” he said.

Individuals and businesses can apply online, request an application by phone or apply in person at the Springdale Recreation Center. Rick Tillery of the Small Business Administration says that if you plan to apply in person, bring as much information as possible.

“Identification, financial information and insurance information, whatever you have, bring it with you. We’re lucky these days that a lot of these things are available online through online banking, your insurance agency is online these days. So even if it’s destroyed in the disaster, you can usually get it online or bring it electronically with you,” he said.

The Disaster Loan Outreach Center at the Springdale Recreation Center will be open Tuesday, April 26 at 1:00 p.m. From Wednesday April 27, it will be open Tuesday to Friday from 9:00 a.m. to 6:00 p.m. and Saturday from 9:00 a.m. to 6:00 p.m. 00h00 to 17h30

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