US Small Business Administration to offer loans to businesses impacted by I-95 collapse

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Small businesses in Northeast Philadelphia may find a little more money, thanks to a low-interest loan program from the U.S. Small Business Administration, in order to meet obligations and get back to business as usual.

The SBA’s Economic Injury Disaster Loan program disperses low-interest loans for small businesses and can provide up to $2 million to help businesses with their obligations as they begin to climb back on their feet. SBA determines each business’ ability to repay the loan when determining how repayment would be handled.Most Northeast Philadelphia residents are happy I-95 is reopened and traffis returning to normal.

"Over the past two weeks, I visited several of the small businesses in northeast Philadelphia and I know the I-95 collapse significantly impacted their business. My Administration led an all-hands-on deck response to get the highway reopened as quickly as possible so customers can return – but I know we need to do more to make those small businesses whole," said Governor Shapiro.

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