SBA Helps Pennsylvanians Build Back Stronger Increase Loan to Mitigate Future Disaster Losses

ATLANTA - Pennsylvania residents and businesses approved for a disaster loan from the U.S. Small Business Administration (SBA) as a result of Tropical Storm Debby on Aug. 9-10, have two years from the date of their loan approval to request an increase to prevent or minimize damages from future disasters. Mitigation funds from the SBA are an affordable way for survivors to rebuild smarter, stronger, and pay for improvements that protect life and property.

"The opportunity to include measures to help prevent future damage from occurring is a significant benefit of SBA's disaster loan program," said Francisco Sánchez, Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration. "I encourage everyone to consult their contractors and emergency management mitigation specialists for ideas and apply for an SBA disaster loan increase for funding."

Businesses and homeowners may be eligible for a loan increase up to 20 percent of their physical damages, as verified by the SBA, to cover the cost of improvements. Example of mitigation improvement may include regrading landscaping to improve drainage, installing a French drain, installing a sump pump, insulating pipes, walls and attics, weather stripping doors and windows and more. To learn more about mitigation options visit sba.gov/mitigation.

On October 15, 2024, it was announced that funds for the Disaster Loan Program have been fully expended. While no new loans can be issued until Congress appropriates additional funding, we remain committed to supporting disaster survivors. Applications will continue to be accepted and processed to ensure individuals and businesses are prepared to receive assistance once funding becomes available.

Applicants are encouraged to submit their loan applications promptly for review in anticipation of future funding.

For more information, call the SBA's Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services) or email [email protected] and ask about increasing your SBA disaster loan for mitigation purposes.

The filing deadline to submit applications for physical property damage is Nov. 12, 2024. The deadline to submit economic injury applications is June 11, 2025.

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About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership.  As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

Related programs: Disaster

Email[email protected]