Low-interest loans available to Aug. 5 Western Pa. flood victims
Residents and business owners in nine Western Pennsylvania counties whose property was damaged by the Aug. 5 flood can apply for low-interest loans through the federal government, the state said Friday.
Flood victims in Westmoreland, Fayette, Allegheny, Armstrong, Butler, Indiana, Somerset, Washington and Cambria counties are eligible for the loans since the U.S. Small Business Administration approved Gov. Wolf’s request to make financial aid available to those hurt by the flood.
Low-interest loans of up to $200,000 are available to homeowners and renters to repair or replace damaged or destroyed real estate.
The SBA regulations also permit loans of 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, the state said.
Businesses may be able to get loans to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. That money is available to a business even if it did not sustain damage from the flood, the SBA said. Borrowers have the option of stretching the repayment over 30 years.
SBA office at Saint Vincent College
The SBA will open a disaster loan outreach center in Room 1B inside the Fred Rogers Center at Saint Vincent College near Latrobe. The outreach center will be open from 9 a.m. to 6 p.m. Monday though Friday, with the exception of Aug. 24, when it will be open from 11 a.m. to 6 p.m., and Sept. 2, when it will be open on its last day from 9 a.m. to 4 p.m. It will be open from 10 a.m. to 2 p.m. Aug. 27 and closed on Aug. 28.
Those who seek information can obtain information and loan applications by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by emailing DisasterCustomerService@sba.gov.
Loan applications can be downloaded at sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to file for loans for property damage is Oct. 18, while the deadline for filing for an economic injury disaster loan is May 19, 2023.
Joe Napsha is a TribLive reporter covering Irwin, North Huntingdon and the Norwin School District. He also writes about business issues. He grew up on Neville Island and has worked at the Trib since the early 1980s. He can be reached at jnapsha@triblive.com.
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