A federal disaster declaration was signed by the President on Friday, September 10th, following the impact of Hurricane Ida. This means there are more resources flowing into our area for those impacted by the storm.
The Small Business Administration (SBA) is offering disaster assistance in the form of low-interest loans to businesses located in regions affected by Hurricane Ida. Businesses of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, fixtures, inventory, and other business assets.
Applicants may be eligible for a loan amount increase up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements may include
- Sump pump
- French drain or retaining wall to help protect property and occupants from future damage caused by a similar disaster.
For small businesses, small agricultural cooperatives, and small businesses engaged in aquaculture, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic Injury Disaster Loan assistance is available regardless of whether the business suffered any physical property damage. You can apply for assistance in person or online.
Visit the Business Recovery Center at the Falls of the Schuylkill Library, located at 3501 Midvale Ave, Philadelphia, PA 19129, for in-person help. Customer service reps will be there to answer questions about the disaster loan program and assist business owners in completing their applications.
Hours of Operation:
Monday and Wednesday, noon – 8 p.m.
Tuesday and Thursday, 10 a.m. – 6 p.m.
Friday, 10 a.m. – 5 p.m.
Due to the ongoing COVID19 pandemic, all in-person visitors are encouraged to wear face masks.
You can also register online. If you cannot visit the Business Recovery Center or apply online, please call the FEMA toll-free helpline at 800-621-3362. Those who use 711-Relay or Video Relay Services should call 800-621-3362.
If you’re interested in any of these disaster resources but aren’t sure where to start, contact us. We’ll pair you with a consultant who can assist you at no cost. They’ll help you understand what you may qualify for and help you apply for assistance.