Published October 12. 2023 02:45PM
Gov. Josh Shapiro announced that the U.S. Small Business Administration has granted an administrative declaration of a disaster, making loans available for businesses and homeowners impacted by July flooding in Northampton County. Impacted residents in Bucks, Carbon, Lehigh, and Monroe counties may also be eligible.
The following types of loans are available:
• The SBA’s Economic Injury Disaster Loan program provides low-interest loans for small businesses, small agricultural cooperatives, and most private nonprofit organizations. The SBA can provide up to $2 million to help businesses meet financial obligations and operating expenses that could have been met had the disaster not occurred. The SBA tailors the repayment term of each disaster loan to the borrower’s financial capability.
• The SBA’s Business Physical Disaster Loans can help businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible. Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible.
• The SBA’s Home Disaster Loans can help homeowners or renters repair or replace disaster-damaged real estate and personal property, including automobiles.
The SBA will open a Disaster Loan Outreach Center to assist businesses and homeowners in person at the Lower Mt. Bethel Township Centerfield Building, 6984 S. Delaware Drive, Bangor.
Standard hours of operation will be Monday through Friday 9 a.m. to 6 p.m. and will open on Saturday, Oct. 21 10 a.m. to 2 p.m. The center will be closed on Sundays. The DLOC will end operations on Wednesday, Oct. 25 at 4 p.m.
Loan applications will also be made available online or by mail.