Low Interest Loans Available For Ida-Affected Chester County Businesses – Daily Local
WEST CHESTER – Residents and businesses in Chester County affected by the remnants of Hurricane Ida can now apply for low-interest loans from the U.S. Small Business Administration (SBA). This service is in addition to the FEMA Federal Disaster Assistance made available to Chester County, as well as Bucks, Delaware, Montgomery, Philadelphia and York counties, through the Presidential Declaration of the last week.
Under the SBA’s Disaster Assistance Program, some Chester County landlords, 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.
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 improvement loans may also be available for businesses and non-profit organizations.
Federal loans from the SBA can help cover losses not covered by insurance or FEMA disaster assistance, as well as company operating expenses that might have been covered if the hurricane. Ida had not taken place.
“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 moving forward, and in addition to federal financial support, staff across Chester County government will continue to help with housing, physical health, mental health and other services needed to ensure a full recovery from this disaster, âadded Murphy.
Residents and businesses in Chester County who suffered damage from Hurricane Ida can begin their application process for all funding assistance options by registering at www.disasterassistance.gov, or by calling the FEMA’s toll-free helpline at 800-621-3362.
In-person registration for help and information will be available at the FEMA Disaster Recovery Center (DRC) in Chester County, whose location 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 at www.chesco.org/ida.