Low interest loans available for Chesco businesses aggrieved by Ida

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WEST CHESTER, PA – Following the federal declaration of disaster for Chester County, residents and businesses affected by the remnants of Hurricane Ida can now apply for low-interest loans from US Small Business Administration (SBA).

The Chester County government announced on Tuesday that the service is in addition to federal FEMA disaster assistance available to Chester County, as well as Bucks, Delaware, Montgomery, Philadelphia and York counties. , through last week’s presidential statement.

Hurricane Ida swept through the northeastern United States on September 1 and 2, dumping record precipitation that swelled Chester County rivers and streams to historic levels and inundated homes and businesses.

Under the SBA’s Disaster Assistance Program, some Chester County homeowners, tenants and business owners may apply for loans to repair or replace real estate damaged or destroyed by a disaster and to repair or replace personal property damaged or destroyed by a disaster, the county said.

Qualifying businesses and private nonprofits of any size can borrow funds to repair or replace real estate, machinery and equipment, inventory and other business assets damaged or destroyed by a disaster. Mitigation enhancement loans can also be offered to businesses and non-profit organizations.

Federal Small Business Association loans can help cover losses not covered by FEMA insurance or disaster assistance, as well as business operating expenses that might have been covered if the Hurricane Ida had not happened.

“The addition of this low interest SBA loan program is good news for those whose homes and businesses have been devastated by Ida, and who are considering all options to recover financially,” said Mike. Murphy, director of the Chester County Emergency Department. Services.

“This is another step forward, and in addition to federal financial support, staff across Chester County government will continue to help with housing, physical health, mental health and d ‘other services needed to ensure a full recovery from this disaster,’ added Murphy.

Residents and businesses in Chester County who suffered damage from Hurricane Ida can begin their application process for all financing assistance options by registering here or by calling the toll-free helpline of FEMA at 800-621-3362.

In-person registration for help and information will be available at the FEMA Disaster Recovery Center (DRC) in Chester County, the location of which will be announced in the coming days.

For all current and future information related to Hurricane Ida support and recovery in Chester County, including more information on the SBA’s Disaster Loan Assistance Program, visit on the county’s Hurricane Ida information page.

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