LARGO, Fla. — Residents affected by last month's EF-1 tornado in Largo may qualify for a low-interest disaster loan.
The U.S. Small Business Administration (SBA) has officially declared the storm a qualifying federal disaster, city officials said in a news release Wednesday.
Homeowners, renters, nonprofits and business owners who had storm-related damage or financial hardship may be eligible for the loans. The loans could help cover repair costs, personal property replacement and living expenses not covered by insurance.
The SBA opened a Disaster Loan Outreach Center (DLOC) at the Largo Public Library beginning Thursday. It is located at 120 Central Park Drive.
Laura Percy-Gehring and Danny Gulino were the first couple in line Thursday morning. They said that every day they find new damage from the tornado.
The storm tore off their roof and siding, and the carport is gone.
“This was all a carport. It was all covered underneath, attached to the shed," Percy-Gehring said. "And the carport detached from the house. This is all open, and water is running down through the walls through here."
The couple is now figuring out what their repair options are. They said the total damage is worth $32,000.
SBA representatives will be available at the center to help applicants navigate the process.
Largo Fire Rescue estimated as many as 50 homes in Ranchero Village were damaged during the June 25 storm.
Small business could borrow up to $2 million to repair business-related items that were destroyed in the storm. Homeowners and renters could borrow up to $100,000 to replace personal property, along with $500,000 to replace their home.
For library hours and more on the application process, click here.