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Area Residents May Be Eligible for Low-Interest SBA Disaster Loans

Saturday, August 24, 2019 @ 12:08 AM

Posted by Ron Wilshire

flood damage CLARION, Pa. (EYT) – Homeowners, renters, and businesses impacted by the flooding in Clarion County, as well as neighboring counties Armstrong, Butler, Forest, Jefferson, and Venango may be eligible for low-interest disaster loans through the SBA Disaster Loan Programs.

(Photo by Dave Cyphert of ProPoint Media Photography.)

Low-interest loans of up to $200,000.00 are available to homeowners to repair or replace damaged or destroyed real estate.  SBA regulations permit loans up to $40,000.00 to repair or replace personal property.  Business 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.

The SBA will establish a Disaster Loan Outreach Center in New Bethlehem to assist anyone looking to apply for a loan. The center will be located at the New Bethlehem Fire Company #1 Station at 425 Arch Street.

It will be open on the following dates and times:

– Tuesday, August 27, 11:00 a.m. to 6:00 p.m.

– Wednesday, August 28, thru Friday, August 30, 9:00 a.m. to 6:00 p.m.

– Saturday, August 31, 10:00 a.m. to 2:00 p.m.

– Closed: Sunday, September 1, and Monday, September 2 (Labor Day)

– Tuesday, September 3, and Wednesday, September 4, 9:00 a.m. to 6:00 p.m.

– Thursday, September 5, 9:00 a.m. to 5:00 p.m.

SBA customer service representatives will be on hand at the disaster loan outreach center to issue loan applications, answer questions about the disaster loan program, explain the application process, and help individuals to complete their applications.

Individuals and businesses unable to visit the center in person 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-mailing disastercustomerservice@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 Oct. 21, 2019. The deadline to return economic injury disaster loan applications is May 20, 2020.


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