The U.S. Small Business Administration has extended the deadline for survivors of Tropical Storm Isaias to apply for low-interest loans from SBA until March 18.

The storm caused devastating flooding and significant damage in early August 2020. Homeowners, renters and businesses impacted by the flooding in Berks and Philadelphia counties, as well as the neighboring counties of Bucks, Chester, Delaware, Lancaster, Lebanon, Lehigh, Montgomery, and Schuylkill may be eligible for low-interest disaster loans through the SBA Disaster Loan Programs.

Low-interest loans of up to $200,000 are available to homeowners and renters to repair or replace damaged or destroyed real estate, and SBA regulations also permit loans up to $40,000 to repair or replace damaged personal property, including vehicles.

Businesses and nonprofits can borrow up to $2 million to restore damaged or destroyed buildings, inventory, equipment and other physical losses.

Economic Injury Disaster Loans are also available and may also be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, whether or not the business sustained physical damage from the storm.

SBA offers long-term repayment options to keep payments affordable, with terms up to 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.

SBA has opened a Virtual Disaster Loan Outreach Center to help people apply online using the electronic loan application from 8 a.m. to 8 p.m. seven days a week. Email FOCE-Help@sba.gov or call 800-659-2955.

Information and loan applications are available by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing DisasterCustomerService@sba.gov.