Loans available for SR flood damage
Slippery Rock borough residents affected by a flash flood earlier this month could get help with uninsured damage expenses, according to borough manager Shawn Pugh.
Last week, the borough received information that Gov. Tom Wolf made financial aid available to municipalities in the form of low-interest loans through the Small Business Association.
Pugh said other municipalities that declared states of emergency during the flash flood Aug. 5 have access to the funds.
“This is run by the federal government,” he said of the loans. “Anybody that has any damage due to the flood can apply.”
Low-interest loans up to $200,000 can be applied for by homeowners or renters with real estate, and $40,000 to fix or replace personal property, such as vehicles. Interest rates range from 0.87% and 4.37%.
Pugh said Economic Injury Disaster and home disaster loans are also available.
The available loans can be used for uninsured damages only.
Pugh said the borough building was flooded during the storm Aug. 5, and was covered by the municipality’s flood insurance. And while the borough doesn’t need to use the loans, residents are encouraged to check the website for access to loan applications.
“The borough is working diligently to get all the damage fixed,” Pugh said.
For information on the available loans and links to federal government disaster relief websites, visit slipperyrockboroughpa.gov and click “Flood Update.”
