For the individuals and families who lost homes when the flood and mudslide hit Oak Creek, there is, at least, hope. The wall of water and mud slammed into homes in the Oak Creek drainage July 12th, destroying and damaging as many as 20 residences.
The Small Business Administration has agreed to allow homeowners and renters apply for disaster loans. Local officials said that disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary homes.
Plus, homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private, non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets.
Officials say that SBA will also lend additional funds to help homeowners and business owners with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
SBA officials toured the disaster area north of Independence a couple of weeks ago and decided they could offer loans. SBA customer service representatives will work with residents at the Inyo County Administrative Center Thursdays from 9am to 6pm and Fridays from 9am to 4pm, starting tomorrow (today) and continuing through August 21st on Thursdays and Fridays only.