Gov. Malloy announces loan program for Shelton fire victims

The fire broke out on Howe Avenue, displacing 25 residents and causing a building collapse. (1/25/14)

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See extended video of a fire in Shelton. VIDEO: Shelton fire

SHELTON - Gov. Dannel Malloy has announced a program for victims of the fire in Shelton that destroyed more than 20 apartments and multiple businesses earlier this month.

Malloy said that victims can start applying for low-interest Small Business Administration loans. He said during a news conference Saturday that homeowners and renters could borrow up to $40,000 for personal property losses. Businesses will be able to borrow up to $2 million to repair or replace damage and physical assets.

The fire broke out on Howe Avenue, displacing 25 residents and causing a building collapse.

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Small Business Administration representatives say they are working on an office space in Shelton specifically for the loan program. They say anyone who wants to start the process can apply online.

Malloy says there are factors and limitations that determine the amount for the loans, but officials encourage anyone affected to look into the loan program.

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