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Weather and Climate

More Than $5 Million In Disaster Loans Made In Oklahoma

Heavy flooding at the intersection of Main Street and Lahoma Ave. in Norman on May 19, 2015.
Steven Anderson
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The U.S. Small Business Administration says more than $5 million in disaster loans have been approved in Oklahoma for residents and businesses affected by storms, tornadoes, winds and flooding in 24 counties. 

The SBA said Wednesday that $72,400 in business loans and $4.9 million in individual loans have been approved as a result of storms that struck southern and eastern areas of the state from May 5 through June 4.

Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, equipment, inventory, and other business assets.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed homes. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

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