HARRISBURG – The Wolf Administration is reminding businesses in Berks, Chester, Lancaster, Lebanon, Lehigh, Montgomery, and Schuylkill Counties impacted by Tropical Depression Ida on Sept. 1-3, 2021 that applications for U.S. Small Business Administration working capital loans are due July 6. The loan program is available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private non-profit organizations. These federal Economic Injury Disaster Loans are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. Loan amounts can be up to $2 million with interest rates of 2.85% for small businesses and 2% for private non-profit organizations, with terms up to 30 years. Applicants may apply online using the Electronic Loan Application via the SBA’s secure website at DisasterLoanAssistance.sba.gov and should apply under SBA declaration #17216.
