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Published: Tuesday, 7/3/2012

Loan aid offered to storm victims

A tree which crushed the back room of a home. A tree which crushed the back room of a home.
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The state is offering emergency assistance for Ohio businesses, homes, and farms damaged by the severe weather during the past weekend. Those affected by the storm could be eligible for reduced interest rates on loans under the Renew Ohio and Rebuild Ohio programs.

Loan applicants who apply through banks could be eligible for interest rate reductions from the state treasurer's office. State Treasurer Josh Mandel made $25 million available for the program.

Renew Ohio is assisting small business owners and farmers with a reduction up to 3 percent on new or existing loans to improve cash flow. The reduction can be applied on an amount up to $400,000 for four years.

Rebuild Ohio is assisting homeowners with reductions of interest rates on loans to rebuild their homes. The reduction is good on loans up to $400,000 for a five-year or seven-year period. More information is available from the state treasurer at 800-228-1102 or www.ohiotreasurer.gov/renewrebuild.

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