Jeff Bingaman United States Senator from New Mexico

WASHINGTON - U.S. Senator Jeff Bingaman announced today that the federal government is making low-interest loans available to New Mexico residents and businesses that were affected by flooding that occurred earlier this year in Lincoln County.

U.S. Small Business Administration (SBA) today said residents and business owners who were affected by flooding that occurred July 26 through August 20, 2008 can now apply for loans.  In addition to Lincoln County, the declaration covers the counties of Chaves, De Baca, Guadalupe, Lincoln, Otero, Sierra, Socorro and Torrance.

 Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.  Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.  Businesses of any size and private, non-profit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

            “I saw firsthand the damage that occurred as a result of the flooding, and it was clear to me that many New Mexicans were going to need help getting back on their feet,” Bingaman said. “I’m very glad these low-interest loans are being made available to those who need it most.”

SBA service representatives will be on hand beginning today at the following location:

Ruidoso

Eastern New Mexico University – Ruidoso

705 Mechem Drive, Suite 200

Open Tuesday, September 30 – Thursday, October 16

Mondays – Fridays

8:00 a.m. – 5:00 p.m.

The filing deadline to return applications for property damage is December 1, 2008.