WASHINGTON, D.C. — The U.S. Small Business Administration has made low-interest federal disaster loans available to eligible small businesses and private nonprofit organizations in Sussex and Warren counties to help offset economic losses caused by July 4 severe storms.
The declaration covers the Pennsylvania counties of Carbon, Lackawanna, Luzerne, Monroe, Northampton, Pike and Wayne, as well as Sussex and Warren counties in New Jersey, making businesses in those areas eligible to apply for Economic Injury Disaster Loans (EIDLs).
The loans are available to small businesses, small agricultural cooperatives and private nonprofit organizations, including faith-based organizations, that suffered financial losses directly related to the disaster. The SBA said agricultural producers, farmers and ranchers are generally not eligible, except for small aquaculture enterprises.
Economic Injury Disaster Loans provide working capital to help businesses meet financial obligations that could not be met because of the disaster, even if they sustained no physical property damage. Loan funds may be used to pay fixed debts, payroll, accounts payable and other operating expenses.
“SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the SBA’s Office of Disaster Recovery and Resilience. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”
Eligible applicants may borrow up to $2 million at interest rates as low as 4% for small businesses and 3.625% for private nonprofit organizations, with repayment terms of up to 30 years. Interest will not accrue, and payments are not due until 12 months after the first loan disbursement.
The SBA has also opened a Business Recovery Center in Monroe County, Pennsylvania, where customer service representatives are available to answer questions, explain the loan process and assist with applications.
Businesses may apply online at sba.gov/disaster. The deadline to submit Economic Injury Disaster Loan applications is April 30, 2027.
