There is still time to apply for a disaster loan through the Small Business Administration (SBA). These low-interest loans are available for small businesses damaged by the remnants of Hurricane Ida between August 31st and September 5th. Applications must be submitted by Friday, December 10th.
Businesses of any size may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, equipment, inventory, and other business assets. Applicants may be eligible for a loan amount increase up to 20% of their physical damages, as verified by the SBA, for mitigation purposes.
For in-person assistance, you can visit the Business Recovery Center (BRC) at the Falls of the Schuylkill Library, located at 3501 Midvale Ave, Philadelphia, PA 19129. The BRC will remain open through the end of the day December 10th unless otherwise noted. You can receive one-on-one assistance in submitting a disaster loan application. If you choose to visit the BRC, please wear a mask.
Business Recovery Center Hours:
Monday and Wednesday, noon – 8 p.m.
Tuesday and Thursday, 10 a.m. – 6 p.m.
Friday, 10 a.m. – 5 p.m.
Closed: Saturday and Sunday
You can also submit an SBA Disaster Loan application online.
Our team at the Temple University Small Business Development Center is also available to support small businesses seeking SBA disaster loan recovery resources. You will be paired with an expert consultant who can assist you for free. Your consultant can help you understand the qualifications and application process. If you’d like to meet with a consultant, please fill out this form. You can read more about the city’s response and recovery efforts to Hurricane Ida here.