Earthquakes are becoming more common and now loans, along with insurance are becoming available for local residents.
The U.S. Small Business Administration is offering low-interest loans to residents in Logan County who suffered damage from earthquakes that occurred in November.
Other counties include Lincoln, Creek, Okfuskee, Oklahoma, Payne and Pottawatomie.
Homeowners are eligible for up to $200,000 in loans to repair or replace damaged property while renters are eligible for up to $40,000 to repair or replace personal property. Businesses may borrow up to $2 million.
Applicants can call the SBA at (800) 659-2955 to ask questions or receive an application, or apply online at sba.gov.
Guthrie was hit with three quakes, including a 5.6 that set a state record.
Seth Robbins with Terra Insure Group says they have received a couple dozen of individuals who have purchased earthquake coverage and many more are pursuing it.
“We have options with people’s homeowners insurance, although they could be a touch more expensive. Many are purchasing a stand alone policy,” Robbins said.
Nearly 200 homes and businesses were damaged when the November 5, 2011 5.6 quake shook the state.
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