Pennsylvania Governor Rendell Announces U.S. Small Business Administration Aid for Luzerne, Surrounding Counties

Governor Edward G. Rendell today said families and business owners who sustained damage from a tornado that struck Luzerne County on Dec. 1 can now apply for low-interest loans from the Small Business Administration (SBA) to help pay for repairs.

Homeowners, renters and business owners in neighboring Carbon, Columbia, Lackawanna, Monroe, Schuylkill, Sullivan and Wyoming counties are now also eligible to apply for SBA assistance.

"Pennsylvania is committed to helping families and business owners whose property was damaged by the tornado," Governor Rendell said. "We continue to work with state and federal agencies to make sure that residents get the financial help they need so their lives can return to normal."

Low-interest loans are available to eligible homeowners, renters and business owners whose property was damaged during the tornado. Up to $40,000 is available to homeowners and renters to repair or replace personal property.

SBA regulations limit home loans to $200,000 for the repair or replacement of real estate. Business owners may borrow up to $1.5 million. The interest rates on the SBA loans range between three percent and eight percent depending on credit availability elsewhere. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss.

Residents can obtain low-interest loan applications and more information at a workshop the SBA has opened located at the Luzerne County Emergency Operations Center, 185 Water St., Wilkes-Barre. Interested applicants can visit the workshop from 9 a.m. to 4:30 p.m. on weekdays.

Applications and program information are also available by calling the SBA toll-free at 1-800-659-2955. The Telecommunications Device for the Deaf and speech-impaired number is 1-800-877-8339.

For additional severe weather safety information, visit http://www.pema.state.pa.us.

The Rendell Administration is committed to creating a first-rate public education system, protecting our most vulnerable citizens and continuing economic investment to support our communities and businesses. To find out more about Governor Rendell's initiatives and to sign up for his weekly newsletter, visit his Web site at: http://www.governor.state.pa.us.

CONTACT:

Kate Philips,

717-783-1116

Maria A. Finn (PEMA)

717-651-2009

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