The U.S. Small Business Administration says more than $5 million in disaster loans have been approved in Oklahoma for residents and businesses affected by storms, tornadoes, winds and flooding in 24 counties.
The SBA said Wednesday that $72,400 in business loans and $4.9 million in individual loans have been approved as a result of storms that struck southern and eastern areas of the state from May 5 through June 4.
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, equipment, inventory, and other business assets.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed homes. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
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