Request for Extension of Application Deadline for Low Interest Loans for Tropical Storm Flood Affected Isaias Approved

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Harrisburg, PA – Gov. Tom Wolfe announced today that the U.S. Small Business Administration (SBA) has approved his request to extend the deadline for tropical storm survivors Isaias to apply for low-interest loans from the SBA to April 19, 2021

“Another month gives us time to make sure that everyone who is eligible and wants to get a loan has the time it takes to apply,” Governor Wolff said. “It was a devastating storm and people and businesses are still recovering.”

The storm caused devastating flooding and significant damage in early August 2020. Homeowners, renters, and businesses affected by flooding in Burke and Philadelphia Counties, as well as neighboring Bucks, Chester, Delaware, Lancaster, Lebanon, Lehigh, Montgomery and Schuylkill counties may be eligible for low interest disaster loans through programs SBA disaster loans.

Low interest loans of up to $ 200,000 are available to homeowners and tenants to repair or replace damaged or destroyed property, and SBA regulations also allow loans of up to $ 40,000 to repair or replace damaged personal property, including vehicles. Businesses and nonprofits can borrow up to $ 2 million to rebuild 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, wages, accounts payable and other bills that cannot be paid due to the impact of the disaster, regardless of whether the business has suffered physical damage from a hurricane.

The SBA offers long-term repayment options to keep payments affordable for up to 30 years. The timing is determined on a case-by-case basis, based on the ability of each borrower to make payments.

Due to efforts to mitigate the impact of COVID-19, the SBA did not establish a Physical Disaster Loan Center (DLOC) in these communities to assist applicants. However, the SBA has opened a Virtual Disaster Loan Support Center (VDLOC) to help survivors apply online using the Electronic Loan Application (ELA) through SBA secure website

Virtual Customer Service Representatives will be available to help job seekers complete their online application at the following times:

Virtual Disaster Loan Support Centers (VDLOCs)
Open: Monday – Sunday (7 days a week)
Clock: 8:00 a.m. – 8:00 p.m. ET
Email: FOCE-Help@sba.gov
Telephone: (800) 659-2955

Companies and individuals can also obtain information and loan applications 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 email. DisasterCustomerService@sba.gov

Loan applications can also be downloaded on the website sba.gov/disaster… Completed applications must be sent to the United States Small Business Administration, Funds Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline for filing claims for compensation for material damage is April 19, 2021. The deadline for returning loan applications due to economic damage is September 20, 2021.

MEDIA CONTACTS:

Lindsay Kensinger, Governor’s Office, RA-GVGOVPRESS@pa.gov
Ruth Miller, PEMA, ruthmiller@pa.gov

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