SBA Disaster Loans Now Available to Residents and Businesses Affected by June 2018 Flooding
The U.S. Small Business Administration (SBA) has announced that low-interest federal disaster loans are now available to Pennsylvania residents and businesses affected by the flooding that occurred on June 20, 2018. The SBA declared a disaster at the request of Governor Tom Wolf.
SBA Customer Service Representatives will be available at the Disaster Loan Outreach Center (DLOC) located at the following location to answer questions about the disaster loan program and to help individuals complete their applications:
Bethany Presbyterian Church
740 Washington Avenue
Bridgeville, PA 15017
Opening: Thursday, July 26th – 11:00 am- 6:00 pm
Weekdays: Monday-Friday – 9:00 am – 6:00 pm
Saturday, July 28th – 10:00 am – 2:00 pm
Closing: Thursday, August 2nd – 9:00 am -4:00 pm
It is not necessary to meet with the SBA staff, applications can be completed online, or call SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for deaf and hard of hearing) to receive an application by mail. Completed applications should be returned to the DLOC or mailed to: U.S. Small Business Administration, Processing, and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Sept 24, 2018. The deadline to return economic injury applications is April 24, 2019.
There are three types of loans available: Home Disaster Loans, Business Physical Disaster Loans, and Economic Injury Disaster Loans (EIDL). Home Disaster Loans are loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles. Business Physical Disaster Loans are loans to businesses of any size to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery, and equipment. EIDL provide working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes to meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.
The SBA provides low-interest, long-term disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters to repair or replace uninsured/underinsured disaster-damaged property. SBA disaster loans offer an affordable way for individuals and businesses to recover from declared disasters. For more information about SBA Disaster Loans, visit https://disasterloan.sba.gov/ela/Information/Index