Governor Wolf Announces Low Interest Loans for Philadelphia and Neighboring Counties

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The application process opens at 8:00 a.m. on Monday August 10

Governor Tom Wolf today announced that the United States Small Business Administration (SBA) has approved its request to declare a disaster in Philadelphia after civil unrest from May 30 to June 8 caused millions of dollars in damage .

“We are grateful to the SBA for accepting that this financial assistance is vital to repair or replace a property,” Governor Wolf said. “These low interest loans will go a long way in helping businesses turn around.”

Homeowners, tenants, and businesses affected by the unrest in Philadelphia, as well as neighboring counties of Bucks, Delaware, and Montgomery, may be eligible for low-interest disaster loans through the Disaster Loan Programs. of the SBA. Potential applicants can contact SBA for more information and begin the application process at 8:00 a.m. on Monday August 10.

Low interest loans of up to $ 200,000 are available to homeowners to repair or replace damaged or destroyed real estate. SBA regulations allow loans of up to $ 40,000 to repair or replace damaged personal property, including vehicles. Businesses and nonprofits can borrow up to $ 2 million as a physical disaster loan to restore damaged or destroyed buildings, inventory, equipment and assets. Economic disaster loans can also be used to pay off fixed debts, payroll, accounts payable, and other bills that cannot be paid due to the impact of the disaster.

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.

In accordance with health precautions for COVID-19, the SBA will not establish a physical Disaster Loan Assistance Center (DLOC) in the community to assist applicants. However, SBA will continue to provide first-class customer service and outreach activities virtually with webinars, Skype calls, phone support, and step-by-step application support.

To this end, the SBA has opened a Virtual Disaster Loan Outreach Center (VDLOC) to help survivors apply online using Electronic Loan Application (ELA) through the SBA’s secure website at https://disasterloanassistance.sba.gov/ and there are virtual customer support representatives available to help applicants complete the online application.

Virtual Disaster Loan Assistance Center (VDLOC)
Open: Monday to Friday from Monday August 10
Hours: 8 a.m. to 5 p.m.
Closed: Saturday and Sunday
Email: [email protected]
Telephone for individuals and businesses: (202) 803-3307 or (470) 363-5936

It is important to note that this VDLOC information applies only to applicants affected by civil unrest in Philadelphia, Bucks, Delaware and Montgomery counties. It does not apply to any other SBA statement or SBA assistance related to COVID-19.

Those wishing to apply for an SBA loan should contact customer service representatives at (202) 803-3307 or (470) 363-5936 to make an appointment for immediate one-on-one assistance in completing their requests. Inquiries about the SBA Disaster Loan Program can be obtained by emailing [email protected] The SBA will conduct a massive awareness campaign to ensure that everyone affected by the disaster has the opportunity to ask for help.

Applicants can also call the SBA Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA Disaster Assistance. People who are deaf or hard of hearing can call (800) 877-8339.

Applicants can apply online using the Electronic Loan Application (ELA) through the SBA’s secure website at https://disasterloan.sba.gov/ela. Loan applications can also be downloaded from www.sba.gov/disaster. Completed paper applications should be mailed to: US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline for returning property damage claims is October 6, 2020. The deadline for returning economic disaster loan claims is May 7, 2021.

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