US Small Business Administration Provides Low Interest Loans For Flash Flooding In Tioga County

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KNOXVILLE, PA (WETM) – Almost a month after the flash flood night of August 18, businesses and residents are still repairing damage from the storm.

Recently, the US Small Business Administration approved a request to make financial assistance available to residents and businesses in Tioga County, Pennsylvania. It is also available for the neighboring counties of Bradford, Lycoming and Potter, as they have also been affected by the flooding.

According to the Small Business Administration, low interest loans are available with loans of up to $ 200,000 to homeowners and tenants to repair damage to real estate. They also allow loans of up to $ 40,000 to repair or replace personal property. Businesses or nonprofits can borrow up to $ 2 million to restore damaged or destroyed buildings, inventory, and equipment. There are long-term repayment options and each loan is reviewed on a case-by-case basis.

Governor Wolf issued a statement and said: “The changing nature of storm threats in the Commonwealth has made recovery difficult for many, and we hope this first step will help those affected return to normalcy.”

There is a Disaster Loan Assistance Center at the Knoxville Community Center in Tioga County, Pennsylvania. The center is to provide in-person assistance for those who wish to apply.


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