Governor Wolf announces low-interest loans available for those affected by flash floods related to remnants of Hurricane Ida
Harrisburg, Pennsylvania – Governor Tom Wolf announcement today that the United States Small Business Administration (SBA) approved a recent request to make financial relief available to Berks County residents following severe storms that caused flash flooding and damage significant September 1-3 due to remnants of Hurricane Ida. Residents and businesses in neighboring counties of Lancaster, Lebanon, Lehigh and Schuylkill can also apply for assistance.
“Unfortunately, this storm has left a lasting impression on dozens of communities across much of eastern Pennsylvania,” Governor Wolf said. “We are grateful that the SBA has recognized the need for low interest loans, which will undoubtedly help many people and businesses recover.”
It is important to note that residents and businesses of Chester and Montgomery counties, which are also contiguous to Berks, are already eligible for SBA loans and other federal assistance due to the Individual Assistance Disaster Declaration. in these counties. More information on the procedure for requesting individual assistance is available in line.
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 of up to $40,000 for 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, payroll, accounts payable and other bills that cannot be paid due to the impact of the disaster, which the business whether or not suffered physical damage from the storm.
The SBA offers long-term repayment options to keep payments affordable, with terms up to a maximum of 30 years. The conditions are determined on a case-by-case basis, depending on the repayment capacity of each borrower.
The SBA will open a Disaster Loan Outreach Center (DLOC) in Berks County to provide in-person assistance to those wishing to apply. However, businesses and individuals can obtain loan information and 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 emailing [email protected]
Berks County Fire Training Center
895 Morgantown Road
Reading, Pennsylvania 19607
- Opening date : Friday, October 8, 2021
- Hours on October 8: 12:00 p.m. – 6:00 p.m. (EST)
- Opening days : Monday Friday
- Business hours: 9:00 a.m. – 6:00 p.m. (EST)
- Saturday October 9 & Saturday October 16: 10h00-14h00
- Firm: Sundays
- Closed permanently: Thursday, October 21 at 4:00 p.m. EST
Alternatively, loan applications can be uploaded to sba.gov/disaster and completed applications should be mailed 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 December 6, 2021. The deadline for returning economic disaster loan claims is July 6, 2022.
MEDIA CONTACT: Lyndsay Kensinger, Office of the Governor, [email protected]