SBA Physical Loan Deadline for PA Civil Unrest
November 6 @ 12:00 am
The U.S. Small Business Administration (SBA) encourages businesses of all sizes, private nonprofit organizations, homeowners, and renters to apply for a disaster loan before the Oct. 6 deadline. Anyone in the declared counties in Pennsylvania with damages caused by civil unrest on May 30 through June 8, 2020 should apply for the disaster loan program.
The declaration covers Philadelphia County and the adjacent counties of Bucks, Delaware and Montgomery counties in Pennsylvania and Burlington, Camden and Gloucester counties in New Jersey.
Virtual Disaster Loan Outreach Center (VDLOC)
Open: Monday – Sunday (7 days/week)
Hours: 8 a.m. – 8 p.m. Eastern Time
Phone: (800) 659-2955
These services are only available for the Pennsylvania disaster declaration as a result of civil unrest on May 30 through June 8, 2020, and not for COVID-19 related assistance.
Survivors should contact the Disaster Assistance Professionals at (800) 659-2955 to schedule an appointment for immediate one-on-one assistance in completing their applications. Requests for SBA disaster loan program information may be obtained by emailing FOCE-Help@sba.gov. The SBA will conduct extensive outreach to ensure that all impacted by the disaster are afforded the opportunity to seek assistance.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.Disaster loans up to $200,000 are available to homeowners to repair or replace disaster damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace disaster damaged or destroyed personal property.
Interest rates are as low as 3 percent for businesses, 2.75 percent for private nonprofit organizations, and 1.25 percent for homeowners and renters, with terms up to 30 years.