Businesses and homeowners with property damage from storms and flooding at the end of June may be eligible for low-interest loans to help pay for repairs, according to Senator Scott Hutchinson.
The U.S. Small Business Administration recently declared the counties of Jefferson, Clearfield, and Fayette as a disaster area from weather events of June 27, making residents and business in those and surrounding counties eligible for low interest disaster loans through the SBA Disaster Loan Programs. The bordering counties include: Armstrong, Blair, Clarion, Cambria, Cameron, Centre, Clinton, Elk, Forest, Greene, Indiana, Somerset, Washington and Westmoreland.
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.
Information and loan applications are available by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), weekdays from 8 a.m. to 6 p.m., or by e-mail at email@example.com. Applications for disaster loans are also available at SBA’s website, https://disasterloan.sba.gov/ela. Business loan applications can also be downloaded from the SBA website at https://www.sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/disaster-loans.
The SBA has established disaster loan outreach centers at three locations where customer service representatives can issue loan applications, answer questions about the disaster loan program, explain the application process and help individuals to complete their applications. The centers will be open 8 a.m. through 5 p.m. on weekdays from July 23-30 and 10 a.m. to 2 p.m. on Saturday July 27.
The outreach centers include: DuBois Area United Way, 223 S. Jared St., DuBois; Joseph A. Hardy – Connellsville Airport (New Terminal Building), 988 Sky Drive, Lemont Furnace; and First United Methodist Church of Reynoldsville, 504 Jackson St., Reynoldsville.