Business and private nonprofit organizations of any size that qualify, may borrow funds to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.Mitigation improvement loans may also be available to businesses and nonprofit organizations.
Under the SBA disaster assistance program, certain Chester County homeowners, renters and business owners can apply for loans to repair or replace disaster-damaged or destroyed real estate, and to repair or replace disaster-damaged or destroyed personal property.
The SBA federal loans can help with losses not covered by insurance or the FEMA disaster assistance, as well as business operating expenses that could have been met had Hurricane Ida not occurred.
“The addition of this SBA low-interest loan program is welcome news for those whose homes and businesses have been devastated by Ida, and who are looking at all options to recover financially,” said Mike Murphy, Director of the Chester County Department of Emergency Services.
Chester County residents and businesses that have sustained damage caused by Hurricane Ida can start their application process for all funding assistance options by registering at www.disasterassistance.gov, or by calling the FEMA toll-free helpline at 800-621-3362.
“This is another step in moving forward, and in addition to the federal financial support, staff throughout Chester County government will continue to help with the housing, physical health, mental health, and other services needed to ensure complete recovery from this disaster,” added Murphy.
In-person registration for assistance and information will be available at Chester County’s FEMA Disaster Recovery Center (DRC), the location of which will be announced in the coming days.
For all current and future information related to Hurricane Ida support and recovery in Chester County, including more information on the SBA disaster loan assistance program, go towww.chesco.org/ida.
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