Loans coming for local homes, businesses hurt by May storm - WNEM TV 5

The U.S. Small Business Administration has approved Gov. Rick Snyder's request for a disaster declaration for seven Michigan counties pummeled in early May by severe storms and flooding.

Snyder says Friday the declaration makes low-interest disaster loans available for residents and businesses in Genesee, Lapeer, Livingston, Oakland, Saginaw, Shiawassee and Tuscola counties.

"I am pleased the Small Business Administration will provide assistance to those individuals and businesses affected by these storms," Snyder said. "The availability of these loans will bring some relief to those working to rebuild."

The loans cover uninsured losses and are available for homeowners, renters, businesses and private, nonprofit organizations to repair or replace property, machinery and equipment or other assets damaged or destroyed.

The governor's office says repayment is tailored to the borrower's financial capability. A temporary disaster recovery center will be opened.

Genesee County was hit particularly hard by the May storm. Click through the photos above to see the extent of the flooding.

If you need assistance, you can go to www.sba.gov to fill out a loan application.

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