HomeBensalem TimesLow-interest loans still available for businesses recovering from remnants of Hurricane Ida

Low-interest loans still available for businesses recovering from remnants of Hurricane Ida

Bucks businesses can apply by June 10


Gov. Tom Wolf recently announced that low-interest loans from the U.S. Small Business Administration are available for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and private nonprofit organizations affected by the remnants of Hurricane Ida from Aug. 31 through Sept. 5.

“For many of us, it seems that Hurricane Ida swept through Pennsylvania a long time ago, but businesses that are still recovering see the impact of this storm every day,” said Wolf. “Even if your business did not sustain physical damage from the storm, economic losses can be lessened by these loans.”

The deadline to apply is June 10. Loans are available to businesses in Bucks and surrounding counties.

Loans of up to $2 million can be used to pay fixed debts, payroll, accounts payable and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application via SBA’s secure website and should apply under SBA declaration #17166.

Disaster loan information and application forms can also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 or sending an email to DisasterCustomerService@sba.gov. Loan applications can also be downloaded online and completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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