U.S. SBA to Provide Low-Interest Loans to Eligible Residents and Businesses Impacted by Heavy Rains and Flooding in Boro Park

BoroPark24 Staff

The U.S. Small Business Administration (SBA) announced yesterday that it will offer federal assistance to New Yorkers in Kings (Brooklyn) and Nassau counties, which were impacted by heavy rains and flooding in September.

Residents and businesses in these locations are eligible to apply for low-interest loans to aid in their recovery following historic rainfall and flooding when more than eight inches of rain fell in Brooklyn during the historic September rainfall. 

The following groups may now be eligible for SBA disaster loans:

Homeowners: up to $500,000 to repair their primary residence.

Homeowners and renters: up to $100,000 to repair or replace damaged or destroyed personal property.

Business owners: up to $2,000,000 for the replacement of real property, inventories, machinery, equipment, and other physical losses.

Businesses and non-profits: Economic Injury Disaster Loans of up to $2,000,000 to provide necessary working capital until normal operations resume after a disaster.

Beginning Wednesday, December 6 at 11:00 a.m., the SBA will open Disaster Loan Outreach Centers at the locations listed below to help New Yorkers apply in-person for assistance. Customer Support Representatives will be available to assist applicants with completing the application and answer questions about the SBA disaster loan program.

Kings County

United Jewish Organizations, 32 Penn Street, Brooklyn, NY 11249

Hours of Operation: Monday–Thursday 9:00 a.m.–6:00 p.m.; Friday 9:00 a.m. – 12:00 p.m.; Sunday 10:00 a.m.–2:00 p.m.

Health Essentials, 2336 86th Street, Brooklyn, NY 11249

Hours of Operation: Monday–Friday 10:00 a.m.–6:00 p.m.; Closed Sunday.

The centers are scheduled to close permanently on Friday, December 22.

Applications for disaster loans may be submitted online using the MySBA Loan Portal at lending.sba.gov. Applicants may also call SBA's Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov. Individuals who are deaf, hard of hearing, or have a speech disability can dial 7-1-1 to access telecommunications relay services.

Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155

The filing deadline to return applications for physical property damage is February 2, 2024. The deadline to return economic injury applications is September 4, 2024.