- Associated Press - Tuesday, January 28, 2014

SHELTON, Conn. (AP) - A federal agency is set to open a loan center in Shelton to help residents and businesses who were affected by a fire that tore through a downtown Shelton apartment building.

Gov. Dannel P. Malloy has announced that the U.S. Small Business Administration will open a disaster loan outreach center on Wednesday at Shelton City Hall.

A federal disaster declaration was approved following the Jan. 6 fire, making people eligible for low-interest federal loans.

For homeowners or renters, the Small Business Administration offers loans to repair or replace real estate or personal property. Renters are eligible for personal property losses, including cars.

Interest rates are as low as 2.25 percent for homeowners and renters, 2.625 percent for nonprofit organizations and 4 percent for businesses with terms up to 30 years.


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