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SBA Disaster Assistance Available for Camden County, Burlington County, Gloucester County and Philadelphia
U.S. SBA Office of Disaster Assistance is offering Pennsylvania and New Jersey businesses and residents affected by civil unrest (May 30 through June 8, 2020) low-interest disaster loans. The declaration (PA 16571) covers Philadelphia County and the adjacent counties of Bucks, Delaware and Montgomery counties in Pennsylvania and Burlington, Camden and Gloucester counties in New Jersey.
Types of available Loans include:
- Business Physical Disaster Loans – Loans to 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.
- Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.
- Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles
Due to continuing COVID-19 restrictions, SBA has opened a Virtual Disaster Loan Outreach Center (VDLOC) to help survivors apply online using the Electronic Loan Application (ELA) via the SBA’s secure website at https://disasterloanassistance.sba.gov/. Customer support representatives are available to assist applicants with completing the online application.
The filing deadline to return applications for physical property damage is Oct. 6, 2020. The deadline to return economic injury applications is May 7, 2021.
Please reach out to Hilary Chebra, Manager, Government Affairs at hchebra@chambersnj.com if you have any questions.
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