Washington – The catastrophic debris from Hurricane Aida continues to be cleaned up, and local business owners and landlords are still weighing the economic impact.
Federal support is being provided through the Small and Medium Business Administration to businesses and eligible residents across the affected region after a severe storm that caused flash floods and multiple tornadoes from August 31 to September 5. I am.
The support will be provided in the form of low-interest disaster loans after President Joe Biden announces the presidential disaster declaration on September 10.
The federal disaster declaration covers the counties of Chester, Delaware, Montgomery, Bucks, Philadelphia and York, which are eligible for personal injury and economic accident loans from government agencies.
In addition, SMEs and most private nonprofits in neighboring counties can apply for an Economic Damage and Disaster Loan from the Small and Medium Business Administration. These counties include Burks, Adams, Cumberland, Dauphin, Lancaster, Lehi and Northampton, Pennsylvania. New Castle, Delaware. Baltimore, Carroll, Cecil, Harford, Maryland. Burlington, Camden, Gloucester, Hunterdon, Mercer, Warren, New Jersey.
“The SBA-led team is ready to help small businesses and residents of Pennsylvania affected by Hurricane Ida,” said Isabella Cassillas Gusman, administrator of the Small Business Administration. “We are committed to providing federal disaster loans quickly and efficiently with a client-centered approach that helps businesses and communities recover and rebuild. “
What financial support is available
Businesses and private nonprofits of all sizes can borrow up to $ 2 million to repair or replace real estate, machinery, inventory and other business assets damaged or destroyed during a disaster.
Applicants may be subject to an increase in the loan amount of up to 20% physical damage for mitigation purposes, as confirmed by the Small and Medium Business Administration. Improvements to qualifying mitigation measures may include drainage pumps, elevations, French drains, or retaining walls that help protect properties and residents from future damage from similar disasters.
For SMEs, small agricultural cooperatives, SMEs engaged in aquaculture, and most private non-profit organizations, the Small and Medium Business Administration is an economy to help meet working capital needs caused by disasters. . We offer accidental accident loans. Financial assistance for financial loss and disaster loan is available whether or not the business suffers property damage.
For homeowners, up to $ 200,000 in disaster loans are available to homeowners to repair or replace real estate damaged or destroyed during a disaster. Homeowners and landlords are entitled to up to $ 40,000 to repair or replace personal property damaged or destroyed in a disaster.
Disaster loan interest rates are as low as 2.855% for businesses, 2% for nonprofits, and 1.563% for homeowners and tenants, for up to 30 years. The loan amount and terms are set by the Small and Medium Business Administration and are based on the financial situation of each applicant.
The deadline for returning property damage claims is November 10, 2021. The deadline for returning financial damage claims is June 10, 2022.
How to start
Business owners and residents affected by the storm are using the Electronic Loan Application (ELA) form available on the agency’s secure website (https://disasterloanassistance.sba.gov/ela/s/). You can apply online and must apply under SBA Statement # 17165., COVID-19 is not an incident.
The Small and Medium Business Administration opened a disaster recovery center in Philadelphia County on Wednesday, September 15 to facilitate the loan application process, helping Pennsylvania businesses submit disaster loan applications on a individual basis. ..
The center is located at 3501 Midvale Avenue, Falls of the Silkill Library, in the East Falls section of northwest Philadelphia. Open Monday and Wednesday from 12 p.m. to 8 p.m. Tuesdays and Thursdays from 10 a.m. to 6 p.m. Friday, 10 am-5pm. Public holidays: Saturday and Sunday. Customer service representatives can answer questions about the disaster loan program and help business owners complete their applications.
All visitors are advised to wear a face mask as the COVID-19 pandemic continues.
Businesses and individuals can call the Small Business Administration Customer Service Center (1-800-659-2955 (1-800-877-8339 for the hearing impaired)) or send an email to DisasterCustomerService @ sba. You can also get information and loan applications. .gov. You can also download the loan application form from sba.gov/disaster. The completed application should be mailed to the US Small Business Administration, Processing and Payment Center, 14925 Kingsport Road, Fort Worth, Texas 76155.
To be eligible for all forms of disaster relief, authorities also require applicants to register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is not available, applicants should call the FEMA toll-free helpline at 800-621-3362. If you would like to use 711 Relay or Video Relay service, please call 800-621-3362.
Earlier this week, FEMA announced that federal disaster relief was available for counties subject to the declaration of emergency. Personal Assistance (IA) is provided through FEMA to qualified individuals and households for emergency work and home repairs or replacements.
Individuals and business owners who have experienced losses in designated areas can register online at www.DisasterAssistance.gov or call 1-800-621-FEMA (3362) or 1-800-462- 7585 TTY. You have to start the process with FEMA. Hearing and speech disorders. The operator can also answer questions about requests that have already been submitted.
“FEMA support is helping people and households affected by the disaster cover necessary costs and serious needs that insurance and other support cannot meet,” FEMA Region 3 said. Ann Tierney, the company’s regional director, said in a statement. “The FEMA Disaster Survivor Assistance (DSA) team is currently located in these county-wide communities, providing additional assistance in accessing and requesting disaster assistance. “
Residents affected by Hurricane Aida, disaster assistance available through the Small and Medium Business Administration – Daily Local
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