SBA offering loans to repair damage from July 29 flash flooding
A group of boaters look over the high waters of the Monongahela River at the Beach Club Marina in New Eagle, Washington County after July flooding had water levels seven feet above the flood stage. The U.S. Small Business Administration is offering low-interest loans to help recovery efforts.
Tons of debris is backed up at Lock 4 in Charleroi when the Monongahela River rose above flood stage after heavy rain fell in July. The U.S. Small Business Administration is offering low-interest loans to help recovery efforts.
The Greene Cove Yacht Club along Ten Mile Creek just outside of Millsboro in Washington County was quickly submerged as the Monongahela River continued to rise after heavy rains in July. The U.S. Small Business Administration is offering low-interest loans to help recovery efforts.
Low-interest loans from the U.S. Small Business Administration are available to homeowners, renters, business owners and nonprofit organizations damaged by flooding July 29.
The deadline to apply is October 23.
The July 29 storm dumped three inches of rain in the region with some areas receiving four to five inches of rain. Water levels of the Monongahela River rose quickly, and Redstone Creek spilled into Uniontown, causing brief evacuations.
Washington County Public Safety Director Jeffrey Yates participated in a damage assessment with the Pennsylvania Emergency Management Agency. He said most of the damage was in residential areas in the city of Washington and Finleyville.
“It’s the first time I’ve seen it in those areas,” he said. “It’s just where the rain was most heavily concentrated.
Uniontown EMA coordinator Greg Crossley said much of the flood damage in Uniontown was to businesses, while homes were hit the hardest in neighboring North Union and South Union townships. He said about seven or eight buildings were damaged in the city.
“There was a lot of damage. It wasn’t as bad as last year, but it was pretty bad,” he said.
Crossley said many homeowners officials interviewed during the assessment had taken proactive steps to mitigate damage after last year’s flooding. He said many people stopped storing valuables in their basements. One man, who lost his hot water heater in last year’s flood, moved his hot water heater to a higher level of the house.
“Washington County got hit significantly harder over there,” he said.
He said damaged Fayette County properties qualify for the loan even though less than 40 percent uninsured damage was reported. Washington County met the standard, and the storm impacted both counties.
“We want people to know this is out there for them, and the SBA loans can be very helpful for them,” he said.
The disaster loans are available in Washington, Westmoreland, Allegheny, Beaver and Greene counties, in addition to several West Virginia counties.
Businesses and nonprofit organizations can apply for loans up to $2 million to cover damages to buildings and property. Economic Injury Disaster Loans are also available regardless of whether the business or organization suffered physical damage, according to a press release from the SBA.
Homeowners can apply for loans up to $200,000 for damaged buildings, and homeowners are renters can apply for loans of up to $40,000 for damaged personal property, the release said.
Interest rates are set by the SBA based on the applicant’s financial condition. The lowest available rates are 1.75 percent for homeowners and renters, 2.5 percent for nonprofit organizations and 3.305 percent for businesses with a 30-year term. Additional loans may be available for flood mitigation improvements, according to the press release.
Applicants may apply online at disasterloan.sba.gov/ela.