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Category:
Press » Business
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PA Governor Rendell Announces Small Business Administration Aid for Flood Victims in Beaver and Surrounding Counties
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Views: 1631
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2007-07-14 15:03:14
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Pennsylvania Office of the Governor
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Governor Edward G. Rendell today said families and business owners in Beaver and surrounding counties who were victims of flooding on July 5 may now apply for low-interest loans from the U.S. Small Business Administration. The loans will help pay to repair damages to personal possessions and structures.
"Pennsylvania worked quickly to help families and business owners who suffered damages from the storm," Governor Rendell said. "I thank the SBA for recognizing the adverse impact the flooding had on homes and businesses in the area and providing assistance."
Low-interest loans are now available to eligible homeowners, renters and business owners whose property was damaged in the flood. SBA regulations limit home loans to $200,000 for the repair or replacement of primary residences and $40,000 to repair or replace personal property, at interest rates between 2.875 percent and 5.75 percent. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss. Business owners can borrow up to $1.5 million at interest rates of between four percent and eight percent.
Residents and business owners can obtain loan applications and more information at the SBA Disaster Loan Outreach Center at the Aliquippa Elementary School, 800 21st Street. The center will open on Saturday, July 14, from 9 a.m. to 4 p.m. Other hours include Monday, July 16, through Friday, July 20, from 8 a.m. to 6 p.m. and Saturday, July 21, from 9 a.m. to 4 p.m.
According to PEMA Director James R. Joseph, eligible homeowners, renters and business owners in Allegheny, Butler, Lawrence and Washington counties could also qualify for flood damage assistance.
For additional flood safety information, visit http://www.pema.state.pa.us.
The Rendell administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us.
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Governor Pennsylvania
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http://www.governor.state.pa.us
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