Thursday, August 22, 2019

Gov. Wolf: Feds Approve SBA Low Interest Loans For July Flooding In Clarion, Surrounding Counties

On August 22, Gov. Tom Wolf announced the U.S. Small Business Administration approved his request to declare a disaster in Clarion County after intense storms produced damaging flash flooding between July 19 and 20, 2019.
Homeowners, renters and businesses impacted by the flooding in Clarion County, as well as neighboring counties Armstrong, Butler, Forest, Jefferson and Venango may be eligible for low-interest disaster loans through the SBA Disaster Loan Programs.
“Fast-moving storms left behind a lot of damage from significant flooding,” said Gov.  Wolf. “These low-interest loans will help survivors replace belongings and make repairs to homes and businesses.”
Low-interest loans of up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. SBA regulations permit loans up to $40,000 to repair or replace personal property. 
Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and assets. Loan amounts and terms are set by the SBA and are based on each applicant’s financial qualifications.
The SBA will establish a Disaster Loan Outreach Center to assist anyone who wishes to apply for a loan. The DLOC will be open at the following location and times: 
-- New Bethlehem Fire Co. #1, 425 Arch Street, New Bethlehem, PA 16242 
-- Opening: August 27 at 11 a.m.
-- Hours: Monday – Friday, 9 a.m. – 6 p.m.
-- Saturday, August 31, 10 a.m. – 2 p.m.
-- Closed: Sunday, September 1
-- Closing:Thursday, September 5 at 5 p.m.
SBA customer service representatives will be on hand at the disaster loan outreach center to issue loan applications, answer questions about the disaster loan program, explain the application process and help individuals to complete their applications.
Individuals and businesses unable to visit the centers in person may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), or by emailing:  
Loan applications are available online. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website
Completed applications should be returned to the local DLOC or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is October 21, 2019.  The deadline to return economic injury disaster loan applications is May 20, 2020.
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