The Chester County Chamber of Business and Industry has received numerous inquiries regarding assistance after the recent destructive storms through the region.
We would like to share some helpful information passed along to us.
Low-interest disaster loans from the
U.S. Small Business Administration are available to businesses and residents in Pennsylvania following the announcement of a Presidential disaster declaration due to the remnants of Hurricane Ida on Aug. 31-Sept. 5, 2021.
The disaster declaration covers Bucks, Chester, Delaware, Montgomery, Philadelphia and York counties in Pennsylvania, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Adams, Berks, Cumberland, Dauphin, Lancaster, Lehigh and Northampton in Pennsylvania; New Castle in Delaware; Baltimore, Carroll, Cecil and Harford in Maryland; and Burlington, Camden, Gloucester, Hunterdon, Mercer and Warren in New Jersey.
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. 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.
To view the full news release, click
here.
For additional information on disaster loans in Pennsylvania, check out this
fact sheet from the U.S. Small Business Administration.
If you should have any further questions, please feel free to reach out to Todd Kowalski at
Todd@ChescoChamber.org.
Thank you.
