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The US Small Business Administration will offer low-interest loans to people affected by the July 12 floods in Bradford and several other counties.
Gov. Tom Wolf on Friday announced the approval of the SBA, which targets Bucks, Philadelphia and Tioga counties, but also available for neighboring counties of Bradford, Delaware, Lehigh, Lycoming, Montgomery, Northampton and Potter.
Areas received between 6 and 10 inches of rain over a three to four hour period, according to the National Weather Service, which damaged homes and destroyed personal property.
“The devastation caused by this flood will remain on the minds of survivors for years to come,†said Wolf. “But we hope that these low interest loans will provide much needed help in helping people get back to normalcy as quickly as possible.”
Up to $ 200,000 is available for owners and tenants for real estate, and $ 40,000 for personal property. Businesses and nonprofits can borrow up to $ 2 million, according to Wolf’s office. The loan term can be up to 30 years.
Economic disaster loans are also available for businesses to cover expenses that cannot be paid due to the impact of the disaster even if they were not physically damaged by the storm.
Those looking for information and loan applications can call the SBA Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or email catastrophecustomerservice. @ sba.gov. The Virtual Disaster Loan Assistance Center is available from 8 a.m. to 8 p.m. daily.
Loan applications can also be downloaded from sba.gov/catastrophe and mailed to the US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
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