HARRISBURG, Pa., Aug. 20 PA-Rendell-SBA-assist
HARRISBURG, Pa., Aug. 20 /PRNewswire-USNewswire/ -- Residents in the Riverwalk at Millennium apartments who were affected by the Aug. 13 fire that destroyed or damaged more than 160 apartments and left hundreds of people and pets homeless will be able to get back on their feet faster now that the federal government has approved Governor Edward G. Rendell's request to declare Montgomery County a disaster area.
Affected residents who were victims of the Conshohocken blaze may now apply for low-interest loans from the U.S. Small Business Administration. The loans will help pay to repair damages to personal possessions and structures.
"Our thanks to the U.S. Small Business Administration for acting quickly on my request to get Riverwalk residents the help they need to recover," said Governor Rendell. "The low-interest loans won't replace everything that was lost in the huge blaze, but it will help residents recover and focus on returning to a normal life."
Low-interest loans are now available to eligible renters, business owners and non-profit organizations whose property was damaged by the fire. SBA regulations permit loans up to $40,000 to repair or replace personal property, at current interest rates between 2.875 percent and 5.75 percent. Subject to these maximums, loan amounts cannot exceed the verified uninsured disaster loss. Business owners can borrow up to $2 million at interest rates of between 4 percent and 8 percent.
More information on disaster assistance in Pennsylvania is available at www.pema.state.pa.us; click on "Disaster Assistance and Updates" in the left-hand column.
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 www.governor.state.pa.us.
CONTACT:
Maria A. Finn, PEMA
717-651-2009
SOURCE Pennsylvania Office of the Governor
