New SBA Loans For Damage In Philly During Civil Unrest Now Available
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At the request of Governor Wolf, the SBA made a special declaration of disaster, opening new relief funds.
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If your home or business was damaged in the vandalism or arson that followed most of the early days of protests in Philadelphia or surrounding counties, there is a new opportunity to access cash for fix things.
The Federal Small Business Administration has approved Governor Tom Wolf’s request for a special declaration of disaster for events that occurred between May 30 and June 8.
Hundreds of properties in the city were damaged during this period, in several neighborhoods. Retail businesses have been battered on 52nd street, big box stores have been broken into and broken into in Port-Richmond, the shops had broken windows at Rittenhouse. During the week, millions of dollars in damage were sustained across the city, adding to the hardships already caused by the coronavirus pandemic.
Various local, state, and charitable funds have provided some relief – and now there is a new pot of low-interest federal loans available to homeowners, tenants, and business owners.
SBA disaster assistance is available not only in Philly, but also to people and locations affected during this time in Bucks, Delaware, Montgomery, Burlington, Camden and Gloucester counties.
Loans will take different forms, with repayment terms of up to 30 years:
- Up to $ 200,000 to repair or replace personal real estate
- Up to $ 40,000 to repair or replace personal property, including cars
- Up to $ 2 million to restore commercial assets, including equipment and inventory
- Also available for business owners: loans to cover costs such as payroll and other bills affected by the impact of the disaster
Applications were opened at 8 a.m. on Monday August 10 and can be submitted online (use code PA-00106) or printed and sent by mail.
They will be validated on a case-by-case basis, according to Wolf’s office. The deadline for a property damage claim is October 6, while loans for economic damage related to this can be filed until May 7, 2021.
There is also a special help center set up by the SBA to help people with the process.
Called the Virtual Disaster Loan Outreach Center, it is open 8 am to 5 pm on weekdays and can be contacted by email at FOCE-Help@sba.gov or by phone at 202-803-3307 or 470-363 -5936. People who have hearing problems can call 800-877-8339.
Social justice protests have continued in Philadelphia at a steady pace, but looting and vandalism – which is not necessarily linked to these militant movements – has not become widespread in the Philadelphia area since early June. This has not been the case in other American cities; hundreds flocked to Chicago’s main shopping district smash windows and rob stores early this Monday morning.
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