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COLUMBUS - Residents across
Ohio impacted by damaging winds and severe weather during storms the weekend
of June 30 could be eligible for emergency assistance in the form of reduced
interest rates on loans under Ohio Treasurer Josh Mandel's Renew Ohio &
Rebuild Ohio Programs. Small businesses and homeowners who apply for
bank loans for construction, restoration, or cash flow for damage and
hardship resulting from the recent severe weather may be eligible to receive
interest rate reductions through the Treasurer's office.
"Extremely high winds and
severe weather across Ohio caught many by surprise and resulted in serious
damages to many homes and small businesses. Those looking to rebuild
and recover from loss may be eligible for various state and federal programs,
including the Renew Ohio & Rebuild Ohio linked deposit programs which can
help lower interest rates on loans," said Treasurer Mandel. "These
programs can be used by businesses or farmers who are victims of severe
weather for construction and to improve cash flow, or by individuals to
finance the restoration of their homes."
Treasurer Mandel has made $25
million available through the Ohio Treasury's Renew Ohio & Rebuild Ohio
emergency financing programs to assist Ohioans whose small businesses, farms
and homes were damaged by severe weather. The money in this linked
deposit program is available and targets small business owners, farmers and
homeowners affected by severe weather who might be eligible to receive
interest rate reductions on loans in order to rebuild and recover from damage
or loss.
Renew Ohio will assist small
business owners and those in the agricultural community who have suffered
severe damage or loss as a result of severe weather. Businesses and
farmers can apply to obtain up to a three percent interest rate reduction on
new or existing loans for construction or to improve cash flow. The
interest rate reduction may be applied on up to $400,000 of the loan for up
to four years.
Rebuild Ohio will assist
homeowners with an interest rate reduction on loans to finance the
restoration of their homes. Homeowners who have suffered severe damage
or loss as a result of severe weather will be eligible for a three percent
interest rate reduction on up to $400,000 of the loan for a five or
seven-year period.
The Renew Ohio and Rebuild Ohio
programs are able to be used in addition to other state and federal disaster
assistance programs that might be available to victims. For more
information on how to apply for the Renew Ohio or Rebuild Ohio programs
please contact the Ohio Treasury's Department of Economic Development by
calling (614) 466-6546 or toll-free (800) 228-1102 option 3; or visit the
Renew Ohio & Rebuild Ohio web page: http://r20.rs6.net/tn.jsp?e=0019D-SXDw8aayb4iNRYOdecjLxSbt3Ow930mVU9UJTPKFqa8Q5l72elOlADN458ch6ENP1BdJ5WJS6PBO9jxB0ZG1L0rhr1wHYAnQRPivX2GD9L1bzPlAWqA6hbvg3As6AS_DLKwvSsHA= - www.OhioTreasurer.gov/RenewRebuild
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