Director of small American businesses. Approves Extension Of Loan Deadline For Tropical Storm Isaias Survivors
HARRISBURG, Pa. (WHTM) – On Thursday, Gov. Tom Wolf announced that the U.S. Small Business Administration was approving his request to grant tropical storm survivors Isaias an extension to apply for low-interest loans from the SBA.
Since the SBA approved Governor Wolf’s request, the application deadline has been extended to March 18, 2021.
“We are so grateful for this extension to ensure that everyone who is eligible and who wants to apply has the time they need to do so,” Governor Wolf said. “SBA is ready to provide any assistance necessary for anyone who wishes to apply.”
Tropical Storm Isaias caused extensive flooding and damage in August 2020, affecting landlords, tenants and business owners across Pennsylvania, and particularly in Midstate counties like Lancaster and Lebanon.
According to the SBA, eligible people can apply for low-interest disaster loans under the association’s disaster lending programs.
The program provides low-interest loans of up to $ 200,000 to homeowners and tenants to repair damaged real estate, up to $ 400,000 to repair or replace damaged personal property, up to $ 2 million. dollars for business owners to repair damaged buildings and inventory, and more. .
Additionally, the SBA provides economic disaster loans to help business owners pay off debts, payrolls, and other bills that cannot be paid due to the impact of the storm.
According to a statement released by the governor’s office, the SBA offers repayment plans so that eligible people can afford the loans. While repayment plans are determined on a case-by-case basis, long-term repayment options offer terms of up to a maximum of 30 years.
Due to the ongoing coronavirus pandemic and mitigation efforts, the SBA is not establishing a physical awareness center for disaster loans in communities affected by flooding. Instead, the association offers a virtual awareness center to help survivors apply online using the Electronic loan application.
Virtual Disaster Loan Outreach Centers have customer support representatives available seven days a week from 8 a.m. to 8 p.m. by phone at 800-659-2955 or by email at [email protected]