The U.S. Small Business Administration (SBA) declared Northampton County in Pennsylvania a disaster after widespread flooding in July.
This administrative declaration makes loans available for businesses and homeowners impacted by the July flooding that impacted residents Northampton County. Also, residents in Bucks, Carbon, Lehigh, and Monroe counties in Pennsylvania and Warren County in New Jersey may also be eligible for assistance.
“My team and I were on the ground in Northampton County immediately following the flooding, meeting with local officials and coordinating with PennDOT and our county partners to repair a vital bridge and ensure homeowners and business owners had the support they needed,” Pennsylvania Gov. Josh Shapiro said. “The flooding in Pennsylvania this summer has been devastating to our communities, but I know by working together that we will rebuild stronger than before. That’s why my Administration has worked with our partners to open up access to these low-interest loans, so that businesses and homeowners can recoup unforeseen losses.”
Three types of loans will be available, including the SBA’s Economic Injury Disaster Loan (EIDL). The EIDL 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.
Another available loan is the SBA’s Business Physical Disaster Loan. This loan helps 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.
Finally, they can apply for the SBA’s Home Disaster Loans. These loans can help homeowners or renters repair or replace disaster-damaged real estate and personal property, including automobiles.
“When I visited Northampton County communities impacted by devastating flooding this summer, I promised I’d do all I could to bring federal assistance to help rebuild,” U.S. Rep. Susan Wild (D-PA) said. “I’m grateful that the Small Business Administration will help homeowners and small businesses across our community get back on their feet by opening access to low interest loans. Thank you to Governor Shapiro and Northampton County for your partnership and thank you to our emergency management personnel and first responders for their around-the-clock work.”
The SBA will open a Disaster Loan Outreach Center (DLOC) to assist businesses and homeowners in person. It will be located in the Lower Mt. Bethel Township Centerfield Building at 6984 S. Delaware Dr. in Bangor, PA 18013. The DLOC will open from Oct. 11 through Oct. 25.
Earlier this week, Shapiro announced that low interest loans from the SBA were also available for impacted residents in Berks County.