Harrisburg, PA – The Shapiro Administration has secured an extension from the U.S. Small Business Administration (SBA) for survivors of the devastating flooding on September 9, 2023, to apply for financial assistance for physical damages. The Pennsylvania Emergency Management Agency (PEMA) requested an extension to the March 25, 2024, deadline last week.
The new deadline to return physical damage disaster loan applications is Wednesday, April 24, 2024. The Friday, October 25, 2024, deadline to return economic injury disaster loan (EIDL) applications remains unchanged.
“We requested this deadline extension to give flood survivors in Northeastern PA additional time to apply for low-interest loans as they continue on a path to recovery," said Governor Shapiro. “I stand committed to helping Pennsylvanians rebuild stronger than before, and access to low interest loans from the federal government can help homeowners and business owners get the support they need to recoup these unforeseen losses."
The SBA's Disaster Loan program provides low-interest loans for homeowners, renters, private non-profits, and businesses located in disaster declared counties who sustained damages from flooding. The SBA can provide up to $500,000 for homeowners to replace or repair their primary residences and up to $100,000 for homeowners and renters to replace or repair personal property. Businesses and most private non-profits may apply for up to $2 million to cover disaster losses not fully covered by insurance.
Additionally, small businesses, small agricultural cooperatives, and most private nonprofit organizations located in the declared disaster area that have suffered substantial economic injury may be eligible for an SBA Economic Injury Disaster Loan (EIDL).
The SBA offers long-term repayment options to keep payments affordable, with terms up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower's ability to repay. View details about the SBA's disaster declaration for the September 9, 2023, flooding here.
Applicants may immediately obtain information and loan applications by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing DisasterCustomerService@sba.gov and referencing Disaster Declaration #20166 and #20167.
Alternatively, loan applications can be downloaded at sba.gov/disaster and completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
Affected homeowners and renters are strongly encouraged to complete the SBA disaster loan application, as those who do not qualify for an SBA loan may later be eligible for other assistance.
MEDIA CONTACT: Jeff Jumper – jejumper@pa.gov