Daily News | Tacony businesses squeezed by I-95 collapse are now eligible for low-interest emergency federal loans
Restaurants and shops that lost income as a result of this month’s I-95 bridge collapse are eligible for low-interest loans of up to $2 million from the U.S. Small Business Administration, Gov. Josh Shapiro announced on Thursday.
The agency issued a disaster declaration for the commercial corridors alongside the damaged section of highway based on losses the Pennsylvanian Emergency Management Agency documented in a survey of businesses, officials said. Early on the Sunday morning of June 11, a tanker truck carrying 8,500 gallons of gasoline crashed while negotiating a sharp turn on the Cottman Avenue exit ramp underneath the I-95 overpass. It ignited a hot fire that weakened the steel support girders of the pavement decks. The northbound lanes collapsed, and the southbound lanes were also closed and later demolished because of damage.
“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,” Shapiro said in a statement. “We’ll continue to cut through the red tape and provide all the support Philadelphia needs as we work to rebuild and recover.
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