Gov. Wolf: Application Deadline Extension Request Approved for Low-Interest Loans for Survivors of Flooding from Tropical Storm Isaias
Harrisburg, PA (STL.News) Governor Tom Wolf announced today that the U.S. Small Business Administration (SBA) approved his request to extend the deadline for survivors of Tropical Storm Isaias to apply for low-interest loans from SBA until April 19, 2021.
“Another month gives us time to make sure that everyone who is eligible and wants a loan has the time they need to apply,” said Gov. Wolf. “This was a devastating storm and people and businesses are still recovering.”
The storm caused devastating flooding and significant damage in early August 2020. Homeowners, renters and businesses impacted by the flooding in Berks and Philadelphia counties, as well as the neighboring counties of Bucks, Chester, Delaware, Lancaster, Lebanon, Lehigh, Montgomery, and Schuylkill may be eligible for low-interest disaster loans through the SBA Disaster Loan Programs.
Low-interest loans of up to $200,000 are available to homeowners and renters to repair or replace damaged or destroyed real estate, and SBA regulations also permit loans up to $40,000 to repair or replace damaged personal property, including vehicles. Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and other physical losses.