U.S. Small Business Administration issues low-interest loans for flash flooding in Tioga County

Local News

KNOXVILLE, PA (WETM)- Approaching a month after the night of flash flooding on August 18th, businesses and residents are still repairing the damages caused by the storm.

Recently the United States Small Business Administration has approved a request to make financial aid available to residents and businesses in Tioga County, Pennsylvania. It is also available to the neighboring counties of Bradford, Lycoming, and Potter because they were also impacted by the flooding event.

According to the Small Business Administration, low-interest loans are available with loans up to $200,000 available to homeowners and renters to repair damages to real estate. They also permit loans up to $40,000 to fix or replace personal property. Businesses or nonprofit organizations can borrow up to $2 million dollars to restore damaged or destroyed buildings, inventory, and equipment. There are long-term repayment options and each loan is reviewed on a case by case basis.

Governor Wolf issued a statement and said, “The changing nature of storm threats in the commonwealth have made recovery difficult for many, and we hope this first step will assist those affected in getting back to normal.”

There is a Disaster Loan Outreach Center at the Knoxville Community Center in Tioga County, Pennsylvania. The center is to provide in-person assistance for those wishing to apply.

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