Linn County Getting Bulk of SBA Loans

Tools

Linn County Getting Bulk of SBA Loans

By Dave Franzman, Reporter

By Dave Franzman

CEDAR RAPIDS- Linn County leads the state when it comes to disaster recovery loans from the federal Small Business Administration.

To date, the SBA has approved 788 loan applications from home owners in Linn County impacted by flooding. The total dollar amount of help for residential units in the county now totals just under $51-million dollars.

The agency has also approved nearly $17-million dollars in low interest loans to 172 businesses. One non profit group also submitted an application and received $559,000 in assistance.

Alex Contreras, an SBA communication specialist, said "over $135.6-million total has been approved for the state of Iowa and close to 50 percent of that has gone to Linn County alone."

September 29th is the deadline for applying for an SBA disaster loan in Iowa.
View comments

The following comments do not necessarily represent the views of KCRG-TV9. Users have agreed to these terms and in doing so accept full responsibility for their comments. Moderation is limited.

Monday, Jul 28 at 7:39 AM not enough damage wrote ...

"Unfortunately" we didn't lose more than the basement and so the damage was about 20% of the home value. Had we had more damage, say 50%, then I agree that it's time to move. The water got just high enough to reach us by maybe 8 inches so I'm hoping that this won't happen again any time soon. Was it a 500 year flood, or even a 750 year flood? I don't know but I'm counting on it not happening again soon...knock on driftwood.

Monday, Jul 28 at 7:35 AM What? wrote ...

Woman VS House??? Are you high?? What kind of comparison is that??? People have built a future and a home. If they want to stay it is their choice. Comparing this to a woman in an abusive relationship is embarrassing. Both are completely different and tragic.

Sunday, Jul 27 at 10:13 AM Woman vs. House wrote ...

Why when a woman is in an abusive relationship and and keeps going back the abuser we look down on her. But when a homeowner wants to pour money into a house located in a town that has been flooded 9 times in the past 80 years and the possibility of it being flooded again are GREAT, this is acceptable. Both situations have a past history of behaviour, so why are we ignoring the facts about the Cedar River and its flooding potential? Move - dont rebuild.

Saturday, Jul 26 at 8:30 PM concerned friend writes wrote ...

where do you go to get these loans

Saturday, Jul 26 at 1:17 AM MATT WILSON FROM PALO wrote ...

IM GAY

Saturday, Jul 26 at 12:48 AM Red Tape wrote ...

If you work you don't getting nothing. If you do nothing you get something. I should rap. The rhyme is there. As Dr.Dre would say its a thing somewhre. SBA is a credit union or bank right now. Get your interest rates low now for they will soar in the future. Don't take the fork in the road people. Go straight at them. Signed, Flooded victim who knows this is a act by mother nature, but a wake up call to the impacted people of the flood and the U.S. gov't.

Friday, Jul 25 at 9:36 PM Al wrote ...

Glad to see it,other than Parkersburg and by Omaha and the tornados we suffered alot here in linn county.

Friday, Jul 25 at 8:42 PM SBA "fan" wrote ...

I thought I would be the last person on earth to ever look to the Federal Government for help but after the way my "insurance company" and my "mortgage company" treated me, I'm forced to say, thank you to the SBA for giving me funds needed to begin repairs just so my "mortgage company" would release the money my "insurance company" FINALLY sent me! How crazy is that?! I have to get money from the govt just to get my money from the insurer?!

Add a comment

Name:

Comment: 500 Characters Left

By submitting a comment to this web site, I affirm that I have read, understand, agree to and shall abide by the following rules and regulations as a term and condition of all comments which I may post. As terms and conditions of using this KCRG web site, I agree that I am fully responsible for the contents of all statements which I make. To the best of my knowledge, all such statements are true, fair, and accurate. I shall not post any statements which attack a person’s integrity or moral character, expose a person to public hatred, contempt or ridicule, deprive a person of the benefits of public confidence and social dealings, or injure a person in the maintenance of that person’s business. I shall not knowingly post content that violates the copyright, trademark, patent or other intellectual property right of a third person. I shall not post content that is false, liable, defamatory, obscene, abusive, that violates a person’s right to privacy, that otherwise violates any applicable local, state, national or international law or that is otherwise inappropriate. I acknowledge that if I post a comment which violates this policy that an offended person to whom comments are directed may have a right through judicial process to determine my identity and make a claim against me for damages. I agree that I shall indemnify KCRG, its employees, agents, representatives and affiliates from any and all expenses KCRG may incur as a result of comments I post which violate this policy, claims and/or damages, including but not limited to reasonable attorney’s fees and costs. KCRG is not responsible for the contents posted or anything arising out of the use of the contents or other interaction and has no obligation or duty to monitor or control any posting but does reserve the right to screen, refuse to post, remove, or edit user generated comment.

I have read and agree to the terms

Hide comments
Athlete of the Week
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
More On Demand

What's On KCRG

7:00
Good Morning America
9:00
Regis & Kelly
10:00
The View
11:00
KCRG-TV9 News at Midday