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Legislative News and Views - Rep. Chris Swedzinski (R)

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Swedzinski: Federal financial resources available for storm recovery

Thursday, September 6, 2018


GHENT – Rep. Chris Swedzinski, R-Ghent, encourages local residents and business owners who suffered property damage during summer storms to take advantage of loans available through the U.S. Small Business Administration’s Office of Disaster Assistance.

Outreach centers are open in Lyon and Redwood counties through Sept. 12 and online application processing lasts through Oct. 29. The federal assistance follows a state disaster declaration that was issued Aug. 23 for Lyon, Redwood and numerous other counties in the region. Availabilities pertain to damage suffered from June 15 through July 12.

Businesses and non-profit organizations may borrow up to $2 million for recovery purposes. Loans of up to $200,000 are available for homeowners to repair or replace damaged real estate. Also, loans of up to $40,000 are available to homeowners and renters alike for replacing damaged or destroyed personal property. The assistance loans come with 30-year rates as low as 3.61 percent for businesses, 2.5 percent for non-profits and less than 2 percent for homeowners and renters.

“A bit of time has passed since the storms rolled through so people have been able to take full stock of their damage and start planning for the next stages of rebuilding,” Swedzinski said. “In addition to the state programs that already have been available, these federal loans are other options to help make that happen. With such favorable terms, this certainly is something I urge people to investigate. It is up to people to take a look and see what might make sense for them.”

The outreach centers are in place to answer questions regarding the disaster loan program and to help individuals complete applications for assistance. The Merit Center (1001 W. Erie Road) is housing Lyon’s center, while the Redwood County Government Center (403 S. Mill St.) is the site in that county. The hours at each center are the same: 9 a.m. to 6 p.m. weekdays and 10 a.m. to 2 p.m. Saturday before closing at 4 p.m. on Sept. 12, the final day of operation. The facilities will be closed Sunday.

More information also may be obtained by calling 1-800-659-2955, by emailing, or by visiting