Low-Interest Loans Available for Allegheny County Apartment Fire Survivors
Governor Tom Wolf today announced that the United States Small Business Administration (SBA) has approved a recent request for financial assistance to residents of Allegheny County following a devastating fire at a resort. apartments in Penn Hills Township on Jan. 22.
“Fortunately, there was no loss of life in this fire, but dozens of residents of this building still suffered devastating losses,” Governor Wolf said. “A low-interest loan will help replace what’s been lost and get them back on their feet faster.”
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 Allegheny 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]
Allegheny County DLOC:
Allegheny County Children Youth and Families
10700 Frankstown Road
Penn Hills, Pennsylvania 15235
Provisional opening hours:
Tuesday February 22: 11 a.m. – 6 p.m.
Wednesday to Friday, February 23 to February 25: 9:00 a.m. – 6:00 p.m.
Saturday February 26: 10 a.m. – 2 p.m. (this is the only Saturday)
Sunday February 27: CLOSED
Monday February 28 – March 3: 11 a.m. – 6 p.m. (final closing at 4 p.m. on March 3)
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 April 18, 2022. The deadline for returning economic disaster loan claims is November 17, 2022.