Loans available to Pa. homeowners, businesses after Ida remnants

Regional News

HARRISBURG, Pa. (WTAJ) — Governor Tom Wolf reminds Pennsylvanians impacted by the Hurricane Ida remnants to apply for financial aid created by the U.S. Small Business Administration (SBA).

“I am grateful that the SBA is providing much-needed assistance, and I urge impacted Pennsylvanians to make educated choices as they undertake their recovery journeys,” Governor Wolf said.

Residents and businesses in Bedford County are eligible for Physical Disaster Loans. These low-interest loans of up to $200,000 are available to homeowners and renters to repair or replace damaged or destroyed real estate. SBA loans also allow for loans of up to $40,000 to repair or replace damaged personal property, including vehicles.

Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and other physical losses.

Outside of Bedford, the following counties are also eligible for this type of loan: Bucks, Chester, Delaware, Montogomery, Northampton, Philidelphia and York.

Additionally, Economic Disaster Loans are available to businesses located in Blair, Cambria, Huntingdon and Somerset counties. Adams, Berks, Carbon, Cumberland, Dauphin, Fulton, Lancaster, Lehigh and Monroe counties are also eligible.

The Economic Disaster Loan may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact, whether or not the business sustained physical damage from the storm.

The SBA offers long-term repayment options to keep payments affordable, with terms up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

Different ways to apply:

  • Submit an application online using the Electronic Loan Application
  • Visit a SBA Business Recovery Center
  • Mail an application to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. 
  • Call the SBA’s Customer Service Center at 1-800-659-2955
  • Email DisasterCustomerService@sba.gov.   

The filing deadline to return applications for physical property damage is Nov. 9, 2021. The deadline to return economic injury disaster loan applications is June 10, 2022. 

More information on the SBA loans can be found on their website.

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