News Flash

Baldwin Borough News Flash

Posted on: August 29, 2018

Disaster Loan Assistance

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The flooding on June 20-21 in Western Pennsylvania affected many counties, including Allegheny.

Due to the flooding’s severity, many homes and businesses sustained physical damage, which could cost business and homeowners a substantial amount of money.

But don’t worry – help is a “click” away.

The U.S. Small Business Administration is encouraging businesses of all sizes, private nonprofit organizations, homeowners and renters affected by the June flooding to apply for a disaster loan before the Sept. 24 deadline.

Businesses and nonprofits can apply up to $2 million to repair or replace disaster-damaged real estate. Loans for working capital, also known as Economic Injury Disaster Loans, are available even if the business did not suffer any physical damage.

Homeowners can apply up to $200,000 to repair or replace disaster-damaged real estate. Homeowners and renters can apply for up to $40,000 to repair or replace damaged personal property, including automobiles.

Interest rates are as low as 3.6 percent for businesses, 2.5 percent for private nonprofits, and 1.9 percent for homeowners and renters, with terms up to 30 years.

To apply, click here.

Additional details on the loan process can be obtained by calling the Small Business Customer Service Center at 800-659-2955 or by email at disastercustomerservice@sba.gov.

I highly recommend looking into this service if you or someone you know was affected by the severe flooding in June. It has the potential to work wonders on your wallet!

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