State of Pennsylvania
08/19/2022 | Press release | Distributed by Public on 08/19/2022 17:10
Low-interest Loans Available for Survivors of Westmoreland County Flooding
Governor Tom Wolf announced today that the U.S. Small Business Administration (SBA) approved his recent request to make financial aid available to residents of Westmoreland County following devastating flooding on Aug. 5.
"Dozens of homes and businesses were damaged during this storm," said Gov. Wolf. "We appreciate that SBA recognizes that low-interest loans will help survivors replace lost belongings and help them recover as quickly as possible."
Residents and business owners in the following counties are also eligible for SBA assistance for losses they sustained as a result of the flooding: Allegheny, Armstrong, Butler, Cambria, Fayette, Indiana, Somerset and Washington.
Low-interest loans of up to $200,000 are available to homeowners and renters to repair or 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 physical losses.
Economic Injury Disaster Loans are also available and may also be used to pay fixed debts, payroll, accounts payable and other bills that can't be paid because of the disaster's impact, whether the business sustained physical damage from the storm.
The SBA offers long-term repayment options to keep payments affordable, with terms up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower's ability to repay.
The SBA will open a Disaster Loan Outreach Center (DLOC) in Westmoreland County to provide in-person assistance for those wishing to apply. Visiting the DLOC is not required in order to obtain assistance, and businesses and individuals 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 [email protected].
Westmoreland County DLOC:
Saint Vincent University
Fred Rogers Center
300 Fraser Purchase Rd.
Room 1B
Latrobe, PA 15650
Tentative Hours of Operation:
Wednesday, August 24: 11:00 a.m. - 6:00 pm
Monday- Friday: 9:00 a.m. - 6:00 p.m.
Saturday, August 27: 10:00 a.m. - 2:00 p.m. (This is the only Saturday)
Sunday, August 28: CLOSED
Closes: Friday, September 2: 9:00 a.m. - 4:00 p.m.
Alternatively, loan applications can be downloaded at sba.gov/disaster and completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The SBA has created a number of fact sheets to help applicants understand the SBA loan process:
FAQ for homeowners and renters
Fact Sheet for Homeowners and Renters
Fact Sheet for Businesses of All Sizes
The filing deadline to return applications for physical property damage is October 18, 2022. The deadline to return economic injury disaster loan applications is May 19, 2023.