The Small Business Administration (SBA) opened two disaster relief centers in Suffolk County that will offer one-on-one assistance for those hit by the catastrophic flooding this August.
“At these centers, people can connect directly with our specialists to apply for disaster loans and learn about the full range of programs available to rebuild and move forward in their recovery journey,” said Francisco Sánchez, associate administrator for the Office of Disaster Recovery and Resilience at the SBA, in a release. “When disasters strike, our [Disaster Loan Outreach Centers] are key to helping business owners and residents get back on their feet.”
They are located at Rose Caracappa Senior Center in Mount Sinai and at the Head of the Harbor Village Hall in St. James. Both are open on weekdays from 9 a.m. to 6 p.m. and on Saturdays from 10 a.m. to 2 p.m. At the center, specialists can assist residents and businesses in finishing their loan applications, submitting additional documents for ongoing applications, and providing application updates.
Despite the agency’s depleted funds for disaster relief loans amid increased demand from Hurricane Helene, they said they will continue to accept and process applications.
“We've never been in this situation before ... We just have to wait until Congress makes the funds available, and then once they make the funds available, we will get the loans out as quickly as possible," Jack Camp, a spokesman for the SBA, told Newsday.
Suffolk County reported over $40 million in damages from the storms, but officials said it could reach $100 million. Around 10 inches of rain hit the county’s North Shore with nearly 1,700 homes reporting asset damage, according to ABC News.
Business and non-profit organizations can borrow up to $2 million for asset damages, including machinery and equipment, and inventory. Residents are capped at $500,000 for real estate damages and $100,000 for personal property losses.
“SBA’s disaster loan program offers an important advantage–the chance to incorporate measures that can reduce the risk of future damage,” Sánchez said. “Work with contractors and mitigation professionals to strengthen your property and take advantage of the opportunity to request additional SBA disaster loan funds for these proactive improvements.”
The centers come a month after President Joe Biden and the Federal Emergency Management Agency (FEMA) denied New York Governor Kathy Hochul’s request for individual disaster relief assistance. A letter from FEMA addressed to Hochul stated that the storms and damages inflicted “were not of such severity and magnitude to warrant the designation of Individual Assistance.” Biden and FEMA only offered funds for rebuilding infrastructure like roads, bridges, and washed-out waterways.
Hochul then began work with the SBA to offer low-interest loans to help those impacted in the county.
“Long Islanders are still feeling the effects of August’s extreme weather, and alongside our federal partners, we’re ensuring that communities have the resources they need to recover,” Hochul said in a statement. “Resiliency is part of our DNA as New Yorkers, and my Administration is working diligently to provide support for those impacted by this flooding.”
The rates for the loans are 4% for businesses, 3.25% for nonprofit organizations, and around 2% for residents, with terms up to 30 years. Interest accruement and monthly payments begin 12 months after the initial disbursement date.
Appointments to the centers can be made online. Walk-ins are also available.
