Flood grants to match interest on loans

The state is moving forward with its Opportunity Grant program to help pay the interest on federal Small Business Administration loans for businesses damaged in the Sept. 17 floods.



Pennsylvania's Department of Community and Economic Development recently started sending letters to business owners who qualified for flood-related SBA loans, inviting them to apply for "working capital grants."


The grants will match the amount of interest, at 2.9 percent, that a business owner would owe to the SBA for the life of the loan. The money will be provided up front as a grant and will not decrease the monthly loan payment.