ATLANTA - U.S. Small Business Administration (SBA) announced today it will open a Disaster Loan Outreach Center (DLOC) in Pennsylvania on Tuesday, July 30, at 11 am, in the Pelbano Recreation Center in Philadelphia. The SBA is opening the Center to assist Pennsylvania businesses and residents affected by an apartment complex fire at the 7400 Roosevelt Apartments in Philadelphia, on July 11.
The declaration covers Philadelphia County and the adjacent counties of Bucks, Delaware and Montgomery in Pennsylvania, and Burlington, Camden and Gloucester in New Jersey.
“Our Disaster Loan Outreach Centers are one of the most powerful resources at SBA’s disposal to support business owners,” said “Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. “Residents and 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.”
Walk-ins are accepted, but you can schedule an in-person appointment at an SBA Disaster Loan Outreach Center in advance. The Center will cease operations on Friday, Aug. 16, at 5 p.m. The Center hours of operation are as follows:
Disaster Loan Outreach Center (DLOC)
Philadelphia County
Pelbano Recreation Center
8101 Bustleton Ave
Philadelphia, PA 19152
Opening: Tuesday, July 30, at 11 a.m. – 7 pm.
Hours: Monday - Friday, 9 a.m. – 7 p.m.
Closed: Saturday and Sunday
Close Permanently Friday, Aug. 16 at 5 p.m.
Businesses and private nonprofit organizations of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize future disaster damage.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
Loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $100,000 to repair or replace damaged or destroyed personal property.
Interest rates are as low as 4% for businesses, 3.25% for nonprofit organizations, and 2.688% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.
For more information and to apply online visit sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The filing deadline to return applications for physical property damage is Sept. 20, 2024. The deadline to return economic injury applications is April 22, 2025.
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About the U.S. Small Business Administration
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.