Low-Interest Loans Available for Berks and Montgomery Counties Impacted by July 11 and 12 Storms

Harrisburg – The U.S. Small Business Administration (SBA) approved a request to declare a disaster in Berks County after intense storms produced flash flooding between July 11 and 12, 2019.

Homeowners, renters and businesses impacted by the flooding in Berks County, as well as neighboring counties Chester, 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 to repair or replace damaged or destroyed real estate. SBA regulations permit loans up to $40,000 to repair or replace personal property. Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and assets. Loan amounts and terms are set by the SBA and are based on each applicant’s financial qualifications.

Individuals and businesses may obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing impaired), or by e-mailingdisastercustomerservice@sba.gov.

Loan applications can also be downloaded at www.sba.gov/disaster. Applicants may apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloan.sba.gov/ela. Completed applications should be returned to the local DLOC or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return applications for physical property damage is Nov. 4, 2019. The deadline to return economic injury disaster loan applications is June 3, 2020.

 

CONTACT: Sarah Rasmussen srasmussen@pasen.gov  (215) 541-2388