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SBA Opens Disaster Loan Outreach Center for Severe Storms and Flash Flooding from July 9-10, 2023

July 2023 Storms: Potential Loans For Homeowners, Small Businesses & Non-Profits

Senator Gillibrand informed municipalities on May 29th that the Small Business Administration is opening a Disaster Loan Outreach Center (DLOC) at the Village of Highland Falls Senior Center at 15 Drew Avenue to assist New Yorkers with recovery from the severe storms and flash flooding that occurred July 9-10, 2023. The disaster declaration covers Ontario and Orange counties, and the adjacent counties of Dutchess, Livingston, Monroe, Putnam, Rockland, Seneca, Steuben, Sullivan, Ulster, Wayne, Westchester, and Yates in New York; Passaic and Sussex in New Jersey; and Pike in Pennsylvania.

Starting today, May 29, 2024 and ending June 12, 2024 at 4pm, the hours of the DLOC are as follows:

Hours: Monday – Friday, 10 a.m. to 6 p.m.,  Saturday, 10 a.m. to 2 p.m.
Closed: Sunday

The filing deadline to return applications for physical property damage is July 15, 2024. The deadline to return economic injury applications is February 18, 2025.

Residents, businesses, and non-profits are encouraged to schedule in-person appointments in advance here: https://appointment.sba.gov/. Walk-ins are also accepted. Applicants may apply online and receive additional disaster assistance information at sba.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.

Loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $100,000 to repair or replace damaged or destroyed personal property.

Interest rates are as low as 4% for businesses, 2.375% for nonprofit organizations, and 2.5% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and monthly payments are not due, until 12 months from the date of the initial disbursement.

For more information please see the following documents: