Federal loans available for Tropical Storm Lee victims

RICHMOND, Va. (AP) - Gov. Bob McDonnell says low-interest federal loans are available to help individuals and businesses in several northern Virginia localities recover from Tropical Storm Lee.

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The U.S. Small Business Administration disaster declaration covers Prince William and Fairfax counties. SBA loans are also available in the following contiguous localities: the counties of Arlington, Fauquier, Loudoun and Stafford, and the cities of Alexandria, Fairfax, Falls Church, Manassas and Manassas Park.

Loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans of up to $40,000 to repair or replace personal property.

Business and nonprofit organizations may borrow up to $2 million.

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