PHILADELPHIA (KYW Newsradio) — The federal Small Business Administration is making disaster loans available to homeowners and businesses who suffered damages during Tropical Storm Isaias on Aug. 4.
Leroy Frazier with the SBA’s Office of Disaster Assistance said the SBA made the loans available in response to a letter from Pennsylvania Gov. Tom Wolf on Dec. 14, requesting a disaster declaration by the SBA.
Frazier said small businesses, nonprofits, homeowners and renters are eligible.
And what kind of damages are we talking about?
“We’re talking about physical damages to the home, for example, homeowners, we’re talking about real estate, and if it’s businesses, we’re talking about their real estate. But in terms of homes, we’re talking about personal property damages for homeowners and renters. If they had any type of personal property damages surrounding their home, within the home, they can apply for a loan,” he explained.
But that’s not all. Frazier said Tropical Storm Isaias also wreaked havoc in an economic way.
“There may have been homeowners and renters around, or other businesses around, that may have done business with them, but as a result of those individuals being impacted, they may not have been able to do business with this particular business. So that means that business may have been economically impacted,” he explained.
The SBA says loans up to $200,000 are available to homeowners to repair or replace destroyed or damaged real estate.
That same group can get loans up to $40,000 to repair or replace personal property.
He said each business could be eligible for up to $2 million in disaster loans. Frazier urges people and businesses to get their applications in as soon as possible. The deadline is Feb. 16, 2021.
The program is open to the five Philadelphia metro area counties, as well as Berks, Lehigh, Lancaster, Lebanon and Schuylkill counties in Pennsylvania. Burlington, Camden and Gloucester counties in New Jersey are also included in the program.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at DisasterLoanAssistance@sba.gov and should apply under SBA declaration #16819.
Survivors should contact the SBA’s Disaster Customer Service Center at 800-659-2955 for assistance in completing their loan applications. Requests for SBA disaster loan program information may be obtained by emailing FOCE-Help@sba.gov.