Governor Wolf announces availability of low interest loans for survivors of devastating July floods

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Governor Tom Wolf today announced that the U.S. Small Business Administration (SBA) has approved its request to make financial assistance available to residents of Bucks, Philadelphia and Tioga counties after severe storms caused devastating flooding and extensive damage on July 12. Bradford, Delaware, Lehigh, Lycoming, Montgomery, Northampton and Potter counties can also apply for assistance.

“The devastation caused by this flood will remain on the minds of survivors for years to come,” Governor Wolf said. “But we hope that these low interest loans will provide much needed help in helping people get back to normalcy as quickly as possible.”

According to the National Weather Service, areas affected by the flooding received 6 to 10 inches or more of rain over a three to four hour period, damaging homes and destroying personal property and cars. Homeowners, tenants and businesses affected by flooding in Bradford, Bucks, Delaware, Lehigh, Lycoming, Montgomery, Northampton, Philadelphia, Potter and Tioga counties may be eligible for low rate disaster loans. interest through the SBA’s disaster loan programs.

Low-interest loans of up to $ 200,000 are available to homeowners and tenants to repair or replace damaged or destroyed real estate, and SBA regulations also allow loans up to $ 40,000. to repair or replace damaged personal property, including vehicles. Businesses and nonprofits can borrow up to $ 2 million to restore damaged or destroyed buildings, inventory, equipment, and other physical losses. Economic disaster loans are also available and can also be used to pay fixed debts, salaries, accounts payable and other bills that cannot be paid due to the impact of the disaster, which the whether or not the company suffered physical damage from the storm.

The SBA offers long-term repayment options to keep payments affordable, with terms of up to 30 years. The conditions are determined on a case-by-case basis, depending on the repayment capacity of each borrower.

The SBA will open Disaster Loan Assistance Centers (DLOCs) in Bucks County and Philadelphia to provide in-person assistance to those who wish to apply, and anyone from any county included in the return. disaster can visit any DLOC site. The Tioga County DLOC will be established virtually. However, businesses and individuals can obtain information and loan applications immediately by calling the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing. ), or by sending an email to DisasterCustomerService. @ sba.gov.

Bucks County:
Lower Bucks Government Service Center
7321 New Falls Road
Levittown, Pennsylvania 19055

Provisional opening hours:
Monday August 2: 12 p.m. – 6 p.m.
Tuesday to Friday, August 3 to 6: 9 a.m. to 6 p.m.
Saturday August 7: 10:00 a.m. – 2:00 p.m. (it’s the only Saturday)
Sunday August 8: CLOSED
Monday to Wednesday August 9 to August 11: 9 a.m. to 6 p.m.
Thursday August 12 – 9:00 a.m. to 4:00 p.m.

Philadelphia Cream:
Katharine Drexel Library
11099 Knights Road.
Philadelphia, Pennsylvania 19154

Provisional opening hours:
Monday August 2: 12 p.m. – 6 p.m.
Tuesday to Friday, August 3 to 6: 9 a.m. to 5 p.m.
Saturday August 7: 10:00 a.m. – 2:00 p.m. (it’s the only Saturday)
Sunday August 8: CLOSED
Monday – Wednesday August 9 – August 11: 9:00 a.m. – 5:00 p.m.
Thursday, August 12 – 9 a.m. to 4 p.m.

Tioga:
Virtual Disaster Loan Assistance Center (VDLOC)
Business hours:
Sunday to Saturday 8:00 a.m. to 8:00 p.m.
Customer Service Center: 800-659-2955
Email: [email protected]

Alternatively, loan applications can be downloaded from sba.gov/disaster and completed applications should be sent to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The SBA has created a number of fact sheets to help applicants understand the SBA loan process:

The filing deadline for returning property damage claims is September 27, 2021. The deadline for returning economic disaster loan claims is April 29, 2022.


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