Small businesses, nonprofit organizations, and agricultural cooperatives in Berks, Chester, Lancaster, Lebanon, Lehigh, Montgomery, and Schuylkill counties may qualify

Governor Tom Wolf today reminded businesses in Berks, Chester, Lancaster, Lebanon, Lehigh, Montgomery and Schuylkill counties affected by Tropical Depression Ida that applications for US Small Business Administration Working capital loans (SBA) are due on July 6. The disaster loan program is available to small businesses, small agricultural cooperatives, small aquaculture businesses and most private non-profit organizations affected by the remnants of Tropical Depression Ida from September 1-3. 2021.

“We know that the recovery from a historic storm like Ida has extended well beyond the days and weeks after the storm passed, the waters receded and the debris was removed,” Governor Wolf said. “Businesses affected by the storm still qualify for federal aid, and I urge businesses in affected counties to apply for this critical support today.”

these feds Economic Injury Disaster Loans (EIDL) are for working capital needs caused by the disaster and are available even if the business did not sustain any physical damage.

Loan amounts can be up to $2 million with interest rates of 2.855% for small businesses and 2% for private nonprofits, with terms up to 30 years.

Applicants can apply online using the Electronic Loan Application (ELA) through the SBA’s secure website at DisasterLoanAssistance.sba.gov/ela/s/ and must apply under SBA declaration # 17216.