Hello, this is Jackje Rossetti from the City of Somerville with important information for residents and business owners who were affected by the July 10th flash flooding.
The Small Business Administration has notified residents of Middlesex County that they will make low-interest loans available to any homeowner, business owner or non-profit organization suffering significant loss of real estate or personal property. Homeowners and residents may apply for loans up to $200,000 for loss to real estate, and up to $40,000 for loss of personal property, while businesses and non-profit organizations may be eligible for up to $2 million in loans.
SBA Officials will set up a Disaster Loan Outreach Center in the gymnasium of Somerville High School, located at 81 Highland Ave., from Friday, July 30th through Thursday, August 5th, however the application period will remain open until September 27, 2010 for physical property damage, and April 27, 2011 for economic injury applications. The Center will be closed on Sunday, August 1st.
For hours of operation of the Center, the Customer Service phone number for the SBA, or additional information about loans, please visit the City’s website, www.somervillema.gov, or call 311.
Subsidies distort what gets built and where it is built.