SBA disaster loans hit $30 million in Linn County
More than $30 million worth of U.S. Small Business Administration Disaster loans have already been approved in Linn County, a number approaching half of all the SBA loans approved in the state since June 1.
As of Thursday, 1,096 loans had been approved statewide for $64.3 million. Of those, 458 loans for $30.5 million are from Linn County applicants.
SBA spokesman Kevin Wynne said the number of loans approved before the recently extended disaster loan application deadline of Sept. 27 is likely to be much higher.
"We have almost 4,000 applications still being processed," Wynne said.
To put it in perspective, Wynne said SBA loans approved from the California wildfire disaster that began in October totaled only $90 million.
Home loans accounted for about 90 percent of the disaster loans approved in Linn County, or $27.7 million, while business loans accounted for about 10 percent, or $2.82 million.
SBA disaster loans in Johnson County have been coming in much more slowly. As of Thursday, 26 loans for $1.43 million have been approved in Johnson County. They included 25 home loans totaling $1.42 million and one business loan for $14,000.
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