Thompson Announces Low-Interest SBA Loans to Help Business Owners, Nonprofits, Homeowners Recover from Severe Storms

WASHINGTON, D.C. - U.S. Representative Glenn "GT" Thompson (Pa.-15) announced that eligible businesses, private nonprofit organizations, homeowners, and renters can apply for low-interest federal disaster loans to offset physical damage caused by severe storms and flooding occurring on July 28, 2026, in Pennsylvania.

The following counties in Pennsylvania's 15th Congressional District are eligible for physical damage loans and Economic Injury Disaster Loans: Cameron, Centre, Clearfield, Clinton, Elk, Indiana, and Jefferson.

The filing deadline to return applications for physical property damage is October 19. The deadline to return economic injury applications is May 19, 2027. However, after the deadline has passed, there is a 60-day grace period in which SBA will accept applications.

"Severe storms throughout the region caused devastating property damage this past July. As a result, the Small Business Administration is offering low-interest loans for those affected. I encourage eligible applicants to contact my office, which is available to support anyone who needs more information or guidance," Rep. Thompson said.

Businesses and private nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their physical damage, as verified by SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind-rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

Interest rates are as low as 4% for businesses, 3.625% for nonprofits, and 2.875% for homeowners and renters, with terms of up to 30 years. Interest does not begin to accrue and payments are not due until 12 months from the date of the first loan disbursement. The SBA determines eligibility and sets loan amounts and terms based on each applicant's financial condition.

To apply online, visit sba.gov/disaster . Applicants may also call SBA's Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.