Disaster loans available
Homeowners, renters, businesses and non-profit organizations can submit disaster loan applications for damages from severe flooding on May 21 and 22 in Warren County.
The deadline for application is Aug. 4.
The low-interest loans are from the U.S. Small Business Administration and are available for Warren, Cameron, Elk, Forest, Jefferson, McKean counties.
Warren County Public Safety Director Todd Lake said there was not much damage reported in the county during the May flooding, but the county is eligible because it borders counties that did have disaster declarations.
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters can receive loans up to $40,000 to repair or replace damaged or destroyed personal property. Businesses and non-profit organizations of any size may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
The SBA also offers Economic Injury Disaster Loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquacultural and most private non-profit organizations of all sizes. EIDL assistance is available regardless of whether the business suffered any physical property damage, the SBA said.
Homeowners and renters can receive loans with interest rates as low as 2.188 percent, 2.625 for non-profit organizations and 4 percent for businesses with terms up to 30 years. The SBA sets the loan amounts and terms based on each applicant’s financial condition.
Applicants can apply online using the Electronic Loan Application through the SBA’s website at disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available through the SBA’s customer service center at 800-659-2955, 800-877-8339 for the deaf and hard of hearing or through email to firstname.lastname@example.org.
Loan applications can be downloaded from www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155.