Loans coming to people displaced in Bridgeport fire

Bridgeport Mayor Joe Ganim says there will soon be millions of dollars in low-interest federal loans available to help those displaced by the condominium fire

Bridgeport Mayor Joe Ganim says there will soon be millions of dollars in low-interest federal loans available to help those displaced by the condominium fire on Charles Street.

Bridgeport Mayor Joe Ganim says there will soon be millions of dollars in low-interest federal loans available to help those displaced by the condominium fire on Charles Street. (1/23/16)

BRIDGEPORT - Bridgeport Mayor Joe Ganim says there will soon be millions of dollars in low-interest federal loans available to help those displaced by the condominium fire on Charles Street. 

The fire that left more than 100 families to begin the new year with no place to call home. 

The U.S. Small Business Administration says those families can now apply for low-interest disaster loans to help them rebuild. 

The loans can be for up to $200,000.

Ganim says the SBA offer came after Gov. Dannel Malloy requested federal assistance .

The interest rate on loans will be as low as 1.8 percent over a 30-year period for both homeowners and renters, who will also be eligible.

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