Governor DeWine requests SBA assistance for businesses impacted by Youngstown explosion

Ohio Governor Mike DeWine Monday requested that the Small Business Administration (SBA) provide low-interest loans to businesses impacted by the explosion at the Realty Building on East Federal Street in May.

"The building explosion caused significant economic injury to its neighboring downtown businesses," wrote Governor DeWine in a letter sent to the SBA today. "At least five small businesses in the disaster area have suffered substantial economic injury as a result of the disaster and are in need of financial assistance not otherwise available on reasonable terms."

Area businesses were surveyed to determine the economic impact of their losses from the time of the explosion until the building was fully demolished at the end of September. Demolition work severely limited access to parking and pedestrian walkways, and all of the surveyed businesses have either dismissed employees or reduced employees' hours as a result.

Governor DeWine's letter requesting the SBA to open its Economic Injury Disaster Loan Program for impacted businesses in Youngstown is available at governor.ohio.gov.

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