Orleans included in disaster declaration from hail, high winds last Aug. 11
Small business, private non-profits can apply by July 28 for federal disaster loans
Press Release, Small Business Administration
Orleans County has been included in a disaster declaration from a high wind and hail storm on Aug. 11, 2024. The declaration also includes Cayuga, Genesee, Monroe, Niagara, Ontario, Seneca and Wayne counties.
The Small Business Administration said small businesses and private non-profit organizations in New York have until July 28 deadline to apply for low-interest federal disaster loans to offset economic losses caused by the high winds and hail.
Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to small businesses, small agricultural cooperatives, nurseries and private non-profits with financial losses directly related to the disaster.
The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.
The loans are available for working capital needs caused by the disaster and are available even if the small business or non-profit did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.
“Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”
The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due until 12 months from the date of the first loan disbursement.
The SBA sets loan amounts and terms based on each applicant’s financial condition.
To apply online visit 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.
