Pennsylvania Governor Rendell Requests U.S. Small Business Administration Assistance For Beaver County

July 9, 2007 -- HARRISBURG – Pennsylvania Governor Edward G. Rendell today asked the U.S. Small Business Administration to declare Beaver County a disaster area following heavy rainfall July 5 that led to widespread flooding.

The designation would make low-interest loans available to eligible homeowners, renters and business owners who suffered damages in the storm.

“It is critical that homeowners and business owners who were affected by the flooding are provided with the resources they need to recover as quickly as possible,” Governor Rendell said. “Having SBA declare Beaver County a disaster area will help property owners get back on their feet.”

The Governor said damage assessments in the county meet the administration’s standard where at least 25 homes and/or businesses exist with uninsured losses of 40 percent or more of their estimated fair market value.

If the request is approved, eligible homeowners and renters could borrow up to $40,000 to replace possessions lost in the flood. Homeowners could borrow up to $200,000 for repairs and eligible business owners could borrow up to $1.5 million.

Under SBA regulations, PEMA Director James R. Joseph said neighboring Allegheny, Butler, Lawrence and Washington counties could also qualify for flood damage assistance if Beaver County is declared a disaster area.

For additional flood safety information, visit www.pema.state.pa.us.

Source: Pennsylvania Governor

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