Shapiro announces low-interest loans available for flood victims in NEPA

EYEWITNESS NEWS (WBRE/WYOU) — Pennsylvania’s Governor Josh Shapiro announced Monday the United States Small Business Administration (SBA) approved a recent request to make financial aid available to the victims of the 2023 September flooding.

“The flooding in Northeastern PA has been devastating, and I stand committed to helping Pennsylvanians recover and rebuild stronger than before. That’s why we worked with the federal government to open up access to these low-interest loans as one tool to ensure homeowners and business owners have the support they need and can recoup unforeseen losses,” Governor Shapiro explained.

The announcement explained the SBA Disaster Loan Program would include low-interest loans for homeowners, renters, private non-profits, and businesses that were damaged by the flooding.

The SBA can give up to $50,000 for homeowners to repair or replace their homes and up to $100,000 for renters and homeowners to repair or replace personal property, according to the release. The release also explained most private non-profits and businesses could apply for up to $2,000,000 to cover disaster losses that aren’t entirely covered by insurance.

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Locally owned farms, small businesses, and most private non-profits in the affected areas that experienced economic injury could be eligible for a SBA Economic Injury Disaster Loan (EIDL.)

To keep payments affordable, the SBA is offering long-term repayment options with terms of up to 30 years. Based on each borrower’s ability to pay it back, terms for the loans are determined on a case-by-case basis.

A Disaster Loan Outreach Center (DLOC) will reportedly be opened by the SBA at 30 Valley View Drive in Jessup, Lackawanna County in the Lackawanna County Center for Public Safety to provide help in person for those interested.

The DLOC would be open Monday through Friday from 9:00 a.m. to 6:00 p.m. They will also be open on Saturday from 10:00 a.m. to 2:00 p.m. while being closed on Sunday and permanently closing on Thursday, February 15 at 4:00 p.m.

Candidates CAN get information on loan applications by emailing DisasterCustomerService@sba.gov or calling the SBA’s Customer Service Center at 1-800-659-2955 and referencing Disaster Declaration #20166 and @20167. Those who are deaf or hard of hearing can call 1-800- 877-8339.

Applicants can also find loan applications online which should be mailed to the following address.

U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

Homeowners and renters affected by the disaster are encouraged to complete the SBA disaster loan application. Any who disqualifies for the SBA loan could be eligible for other assistance.

The deadline for the disaster loan applications is March 25 while the Economic Injury Disaster Loan (EIDL) applications are due on October 25.

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