Businesses and homeowners with property damage from recent 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 Allegheny County as a disaster area from weather events of June and July, 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, Beaver, Butler, 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 a disaster loan outreach center at the Allegheny County Airport in West Mifflin 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 center will be open 9 a.m. through 6 p.m. on weekdays through August 8 and from 10 a.m. to 2 p.m. on Saturday, August 8.
The filing deadline to return applications for physical property damage is Sept. 27, 2013. The deadline to return economic injury applications is April 29, 2014.