SBA Opens Business Recovery Center in Philadelphia to Assist Businesses Affected by the Interstate 95 Collapse

ATLANTA – The U.S. Small Business Administration (SBA) announced today it will open a Business Recovery Center (BRC) in Philadelphia County at 11 a.m., Friday, July 7, at the Philadelphia Fire Department's Engine 38 training facility. At the BRC, SBA’s Customer Service Representatives will assist those applying with SBA for financial losses due to the Interstate 95 Bridge Collapse that occurred on June 11, 2023. 

“Our Business Recovery Center is one of the most powerful resources at SBA’s disposal to support business owners in the midst of a disaster,” said Francisco Sanchez, Jr., Associate Administrator, Office of Disaster Recovery and Resilience. “Business owners can meet in-person with our specialists to apply for SBA disaster loans and get information on the full breadth of our programs designed to help them navigate their recovery.”

The disaster declaration covers Philadelphia County and the adjacent counties of Bucks, Delaware and Montgomery in Pennsylvania and Burlington, Camden, and Gloucester in New Jersey.

Any business owner in any of the declared counties can get help at the BRC. It will operate as indicated below.

Businesses and private nonprofit organizations may borrow up to $2 million to meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers working capital disaster loans to help businesses meet their necessary financial obligations.

Interest rates are 4 percent for small businesses, 2.375 percent for nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/  and should apply under SBA declaration # 17980.

Disaster loan information and application forms may also be obtained by calling the SBA’s Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services), or emailing DisasterCustomerService@sba.gov. Loan applications may be downloaded at sba.gov/disaster. Completed applications should be returned to the center or mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The filing deadline to return economic injury applications is March 29, 2024.

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About the U.S. Small Business Administration 

Recently, U.S. SBA Administrator Isabella Casillas Guzman announced a policy change granting 12 months of no payments and 0 percent interest. This policy change will benefit disaster survivors and help them to decrease the overall cost of recovery by reducing the amount of accrued interest they must repay. Details are available through the SBA Disaster Assistance Customer Service Center at 800-659-2955. Individuals with verbal or hearing impairments may dial 7-1-1 to access telecommunications relay services from 8 a.m. to 8 p.m. ET, Monday to Friday, or email: DisasterCustomerService@sba.gov.

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.