SBA approves the request; Loans to residents of Bucks Co. up to $ 200 thousand

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BUX COUNTY, PA – The US Small Business Administration has approved Gov. Tom Wolfe’s request for financial assistance to Bucks residents following a 100-year flood on July 12.

Assistance will also be available through SBA’s disaster loan programs in Philadelphia, Tioga, Bradford, Delaware, Lehigh, Lycoming, Montgomery, Northampton and Potter counties.

“The destruction caused by this flood will remain in the minds of the survivors for years to come,” Wolf said. “But we hope these low-interest loans will provide much needed help in helping people get back to their normal lives as quickly as possible.”

Low-interest loans up to $ 200,000 are available to homeowners and tenants to repair or replace damaged or destroyed property. 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, payroll, accounts payable and other bills that cannot be paid due to the impact of the disaster, regardless of whether the business has incurred 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 an individual basis, based on the ability of each borrower to make payments.

The SBA will open Disaster Relief Centers (DLOCs) in Bucks County and Philadelphia to provide personal assistance to those who wish to apply, and anyone from any county listed on a natural disaster declaration may visit any DLOC location. Tioga County DLOC will be created virtually.

Companies and individuals can also receive immediate 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 emailing DisasterCustomerService @ sba .gov.

In Bucks County, DLOC will be established at the Lower Bucks Public Services Center located at 7321 New Falls Rd in Levittown.

Approximate opening hours:

Monday 2 August 12:00 – 18:00

Tuesday 3rd August – Friday 6th August from 9:00 am to 6:00 pm.

Saturday 7 August 10:00 to 14:00 (only Saturday)

Monday August 9th – Wednesday August 11th from 9:00 am to 6:00 pm.

Thursday 12 August 9:00 am – 4:00 pm


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Got tips, story ideas, or questions in Lower Bucks County? Email kate.fishman@patch.com.

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