The Shapiro Administration obtained an extension from the U.S. Small Business Administration (SBA) for individuals affected by the severe flooding on Sept. 9, 2023, to seek aid for physical damages.
PEMA asked for more time beyond the March 25, 2024, deadline, and it was granted.
The new deadline for returning applications for loans to cover physical damage is Wednesday, April 24, while the deadline for economic injury disaster loan (EIDL) applications remains the same, on Friday, Oct. 25, 2024.
“We requested this deadline extension to give flood survivors in Northeastern PA additional time to apply for low-interest loans as they continue on a path to recovery,” said Shapiro.
The SBA’s Disaster Loan program offers low-interest loans for homeowners, renters, private non-profits, and businesses in declared disaster areas that suffered flood-related damages.
For homeowners, the SBA can provide up to $500,000 to repair or replace their primary residences, and up to $100,000 for personal property. Businesses and most private nonprofits may apply for up to $2 million to cover disaster losses not fully covered by insurance.
Small businesses, small agricultural cooperatives, and most private nonprofit organizations in the declared disaster area that experienced significant economic hardship may qualify for an SBA Economic Injury Disaster Loan (EIDL).
The SBA offers long-term repayment options to make payments manageable, with terms that can go up to 30 years and are decided case by case based on the borrower’s ability to repay.
Those seeking information and loan applications can contact the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for those who are deaf or hard-of-hearing), or email [email protected] with reference to Disaster Declaration #20166 and #20167.
Alternatively, you can download loan applications at sba.gov/disaster. Completed applications should be sent to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. Affected homeowners and renters are strongly advised to complete the SBA disaster loan application, as those ineligible for an SBA loan may later qualify for other types of aid.The Shapiro Administration has secured an extension for victims of the devastating flooding on Sept. 9, 2023, to apply for financial aid for physical damages from the U.S. Small Business Administration (SBA).
Affected homeowners and renters are strongly encouraged to complete the SBA disaster loan application, as those who do not qualify for an SBA loan may later be eligible for other assistance.
