Feds approved $1.2 million in loans after Holly tornado | SummitDaily.com

Feds approved $1.2 million in loans after Holly tornado

DENVER – The Small Business Administration has approved nearly $1.2 million in low-interest loans to help rebuild 21 homes and one business damaged in the Holly tornado and its aftermath, the federal agency said Wednesday.SBA spokesman Richard Jenkins said Loans of up to $200,000 are available to replace or repair houses. Loans of up to $40,000 are available to repair or replace personal property.Businesses can also apply for loans to help pay bills because of lost business, whether their property was damaged.The low-interest loans are available in Prowers County as well as in nearby Baca, Bent and Kiowa counties in Colorado and Kansas’ Greeley, Hamilton and Stanton counties. Jenkins said the administration always makes people in neighboring counties eligible for the loans because natural disasters can affect a wide area.The tornado hit on March 28. Rosemary Rosales, 28, died hours later. Delores Burns, 76, died last week.The tornado destroyed or seriously damaged 48 houses. Another 114 received minor damage.

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