Federal disaster loans are now available for residents and businesses in Clearfield and Indiana Counties affected by Tropical Storm Debby. Homeowners can receive up to $500,000 for repairs, while businesses are eligible for loans up to $2 million. The SBA’s Disaster Loan Program, part of the recovery efforts, allows application deadlines for both physical damages and economic injuries until early 2025.
Residents and businesses in Clearfield and Indiana Counties affected by the floods from Tropical Storm Debby can now access federal disaster loans. This provision follows the approval of a disaster declaration by Governor Josh Shapiro, facilitated by the U.S. Small Business Administration (SBA), which provides low-interest loans to aid recovery efforts. Homeowners may receive up to $500,000 for repairs, while $100,000 is allocated for personal property replacement. Moreover, businesses and nonprofits can obtain loans of up to $2 million for uninsured disaster losses.
“The flooding caused by the remnants of Tropical Storm Debby was devastating for many Pennsylvanians across our Commonwealth, and my administration continues to work to do everything we can to help them recover and rebuild,” remarked Governor Shapiro. Loans are available with terms extending up to 30 years, ensuring borrowers have manageable repayment options.
To facilitate loan applications, individuals can contact the SBA Customer Service Center at 1-800-659-2955 or access online applications. Additionally, Disaster Loan Outreach Centers will be established in the affected areas to offer assistance in person. The application deadline for physical damages is set for February 11, 2025, and economic injury loan applications will remain open until September 15, 2025.
Tropical Storm Debby inflicted significant flooding in Pennsylvania, particularly in Clearfield and Indiana Counties, in August 2024. In response to the devastation, federal assistance options have been mobilized to support recovery efforts, enabling affected homeowners and businesses to obtain low-interest loans. The SBA’s Disaster Loan Program represents a critical resource for communities grappling with the aftermath of natural disasters. This funding facilitates necessary repairs and reconstruction efforts for those who have suffered financial losses from the storm.
In summary, the federal assistance offered to Clearfield and Indiana Counties represents a vital step in helping residents and businesses recover from the catastrophic effects of Tropical Storm Debby. With available low-interest loans for home and business repairs, as well as support from the SBA, affected parties are encouraged to apply promptly and take advantage of the resources available to them.
Original Source: www.explorejeffersonpa.com
