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Low-interest loans available to homes, businesses hit by severe weather in southwest Virginia

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RICHMOND, Virginia — Federal disaster loans are available to southwest Virginia homeowners, businesses and nonprofit organizations hit by severe weather in February.

The Virginia Department of Emergency Management says the U.S. Small Business Administration approved the low-interest loans at the request of Gov. Terry McAuliffe.

McAuliffe says two dozen homes and businesses in Wise County were damaged by winter storms and flooding. The loans also are available for the contiguous counties of Dickenson, Russell, Scott and Lee, and the city of Norton.

Homeowners can get loans up to $200,000 for structure repairs and up to $40,000 to replace or repair personal property. Business can receive loans of up to $2 million.

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