Lowville business hopes federal disaster loans will save it money

LOWVILLE, New York (WWNY) – One Lowville business is hoping newly available federal loans will help save some money as it builds back from this summer’s flash floods.

Jeb’s Restaurant in Lowville was closed for 5 weeks because of the damage caused by the July 10 storm.

Now, the U.S. Small Business Administration is taking applications for loans of up to $2 million for the replacement of property, equipment, machinery, and more.

Jeb’s owner Emerson Metzler says he took out private and business loans to reopen but those loans have steep interest rates.

“We hopefully will be able to refinance those high-interest loans into a manageable, lower-interest loan that is much more flexible for repayment,” he said.

Homeowners and nonprofit organizations may also be eligible for SBA disaster loans.

For more information on applying for the loans, click here.

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