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SBA Offers Disaster Assistance to Businesses and Residents Affected by Flash Flooding
New Jersey businesses and residents affected by flash flooding on July 12, 2021 may apply for low-interest disaster loans from the U.S. Small Business Administration. Affected residents and businesses in Burlington, Camden, Gloucester, Hunterdon, Mercer and Warren counties are eligible for assistance.
Applicants may be eligible for a loan amount increase up to 20 percent of their physical damages, as verified by the SBA for mitigation purposes. Eligible mitigation improvements may include a safe room or storm shelter, sump pump, French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
Interest rates are as low as 2.88 percent for businesses, 2 percent for nonprofit organizations, and 1.625 percent for homeowners and renters, with terms up to 30 years. 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 (ELA) via SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s and should apply under SBA declaration # 17054, not for the COVID-19 incident.
Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard-of-hearing) or by emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster
Completed applications should be returned to the center or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Sept. 27, 2021. The deadline to return economic injury applications is April 29, 2022.
Virtual customer support representatives are available to help applicants who cannot come to the DLOC to complete the online application during these hours:
Open: Monday – Sunday (7 days/week)
Hours: 8 a.m. – 8 p.m. EDT
Email: FOCE-Help@sba.gov
Phone: (800) 659-2955
Customer Service Representatives will be available at the DLOCs to answer questions about the disaster loan program and help individuals complete their applications. Due to the ongoing COVID-19 pandemic, all visitors to the DLOC are encouraged to wear a face mask.
Bucks County, Pennsylvania
Lower Bucks Government Services Center
Levittown, Pennsylvania 19055
Opening: Monday, Aug. 2 at noon
Hours: Monday – Friday, 9 a.m. - 6 p.m.
Open: Saturday, Aug. 7, 10 a.m. - 2 p.m.
(Open one Saturday only) Closed: Sunday
Closing: Thursday, Aug. 12 at 4 p.m.
Philadelphia County
Katharine Drexel Library
Philadelphia, Pennsylvania 19154
Opening: Monday, Aug. 2 at noon
Hours: Monday – Friday, 9 a.m. - 5 p.m.
Open: Saturday, Aug. 7, 10 a.m. - 2 p.m.
(Open one Saturday only) Closed: Sunday
Closing: Thursday, Aug. 12 at 4 p.m.
Please reach out to Hilary Chebra, Manager, Government Affairs at hchebra@chambersnj.com if you have any questions.
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