Governor Wolf announces that low-interest loans will be made available to those affected by the August flash floods
Harrisburg, Pennsylvania – Governor Tom Wolf announced today that the United States Small Business Administration (SBA) approved a recent request to make financial assistance available to residents of Tioga County following severe storms that caused flash flooding and extensive damage on 18 August. Residents and businesses in neighboring Bradford, Lycoming and Potter counties can also apply for assistance.
“More and more often, our communities are being impacted by fast-moving, highly localized storms that end in flash flooding and the damage only associated with that hazard,” Governor Wolf said. “The changing nature of storm threats across the Commonwealth has made recovery difficult for many, and we hope this first step will help those affected get back to normal.”
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 Awareness Center (DLOC) in Tioga County to provide in-person assistance to those wishing to apply, and anyone from any county included in the disaster declaration can visit. the DLOC website. 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]
Knoxville Community Building
301 Main Street East.
Knoxville, Pennsylvania 16928
Provisional opening hours:
Wednesday September 8: 9 a.m. – 6 p.m.
Thursday to Friday, Sept. 9 to Sept. 10: 9:00 a.m. – 6:00 p.m.
Saturday September 11: 10 a.m. – 2 p.m. (This is the only Saturday)
Sunday September 12: CLOSED
Monday to Wednesday, Sept. 13 to Sept. 15: 9 a.m. – 6 p.m.
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 November 1, 2021. The deadline for returning economic disaster loan claims is May 31, 2022.