(Danville, Va.) –Danville and Pittsylvania County residents and business owners who suffered significant losses during Tropical Storm Michael are eligible for low-interest loans from the Small Business Administration.

Gov. Ralph Northam announced Wednesday that the SBA has opened an office at 515 Main St., in the former location of the Danville registrar’s office, to provide assistance to those affected by the Oct. 11 storm and flood, which left many without power for days.

Through the SBA program, businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory and other business assets.

Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate.

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

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