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Gov. Shapiro announces reopening of temporary lanes on I-95 in Philadelphia
Pennsylvania Gov. Josh Shapiro announced Friday that the newly built temporary lanes would reopen at noon. Work on a more permanent fix will continue.
PHILADELPHIA - Some Philadelphia businesses may get financial assistance thanks to a low-interest loan program from the U.S. Small Business Administration.
The purpose of the loan program is to ease financial woes for businesses that were impacted by the collapse of a portion of I-95.
The collapse caused Pennsylvania Governor Josh Shapiro to announce a disaster declaration, resulting in the immediate use of federal funds to rebuild the roadway.
In the two weeks it took crews to replace the collapsed stretch of the interstate, some businesses lost up to 50 to 60 percent of cash flow due to disrupted traffic routes.
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Local businesses anxious for roads to reopen when I-95 does
There is a definite plan when I-95 will reopen, but what about nearby State Road? There are a lot of questions about the surrounding area and the businesses impacted by the collapse.
RELATED COVERAGE:
- I-95 Philadelphia collapse: What you need to know about the damaged highway, reconstruction
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- I-95 collapse: Detours, road closures creating influx of traffic in nearby neighborhoods
- I-95 collapse: Some local businesses feel negative impact of new traffic patterns as I-95 is rebuilt
- I-95 collapse: Local businesses, neighbors express optimism as rebuilding progresses rapidly
The SBA’s Economic Injury Disaster Loan program provides low-interest loans for small businesses and most private nonprofit organizations.
Officials say at least seven small businesses suffered economic harm as a result of the I-95 collapse and they will be eligible to seek financial assistance.
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NE Philly residents happy I-95 has reopened
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. "That’s why I directed my Administration to work with the City of Philadelphia and the Small Business Administration to secure this declaration and give businesses access to low-interest, emergency loans. We’ll continue to cut through the red tape and provide all the support Philadelphia needs as we work to rebuild and recover."
Loan applications will be available online or by mail. For more information click here.