As Cohoes continues to rebuild after the devastating fire that ripped through downtown, the Governor has announced help for the local businesses and homeowners who have been affected.It's amazing that businesses on Remsen Street in Cohoes have already started to rebuild. Smith's, which was built in 1939, was damaged by the fire. But just a few weeks ago, they reopened. Now the Governor is hoping that the trend will continue with new low interest rates.

Governor Andrew Cuomo announced that businesses that were affected by the Cohoes fire can request state funds to help pay for damages and in turn help rebuild. The state did an assessment and found that seventeen homes and eight businesses had damages to the tune of $613,000.

The interest rates for the loans are being offered at very low rates. They are as low as 1.75 percent for homeowners and renters and 3.4 percent for businesses with loan terms up to 30 years.

To apply for a loan through the program, click here.