State lawmakers announce financial aid available for Bucks residents
Davis, Galloway highlight low-interest loans for those affected by storms, flooding
HARRISBURG, July 30 – State Reps. Tina Davis and John Galloway announced financial aid is available to Bucks County residents affected by severe weather and flash flooding on July 12 and its damaging aftermath.
“In a matter of hours, Bucks County residents and businesses went from an ordinary summer day to wondering where they would sleep that night or when they could open their place of business again,” Davis said. “I’m relieved financial aid is available, but I am frustrated and disappointed the federal government could not step forward in a more meaningful way for residents to help rebuild what has been lost or damaged during this devastating storm and flash flood.”
The U.S. Small Business Administration approved financial aid for residents Thursday following a request by Gov. Tom Wolf. The move allows residents and businesses in Bucks, Bradford, Delaware, Lehigh, Lycoming, Montgomery, Northampton, Philadelphia, Potter and Tioga counties to apply for aid.
“This important step will allow people in dire need of assistance the chance to rebuild,” Galloway said. “Homeowners and renters have been forced to relocate, and these low-interest loans will allow people and businesses the opportunity to rebuild and reopen.”
Earlier this month, Wolf and state lawmakers toured a Bucks County home and condominiums affected by flooding where residents needed to relocate with the assistance of the Red Cross.
Low-interest loans of up to $200,000 are available to homeowners and renters to replace damaged or destroyed real estate, and SBA regulations also permit loans up to $40,000 to repair or replace damaged personal property, including vehicles. Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and other losses. Long-term repayment options are available up to a maximum of 30 years. The SBA will open a Disaster Loan Outreach Center in the Lower Bucks Government Services Center, 7321 New Falls Road, Levittown.
People and business representatives may immediately obtain information and loan applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing DisasterCustomerService@sba.gov.