Physical & Economic Disaster Loans from the SBA are available for Westchester Businesses & Citizens

When disaster strikes, we are present to help people and businesses affected and work with FEMA and other federal agencies to offer help and services that usually are not available. With this Presidential declaration we at SBA are offering to businesses, homeowners, renters and private nonprofit organizations in the following New York counties of Bronx, Kings, Nassau, Queens, Richmond, Suffolk, and Westchester the opportunity to apply for Physical Disaster Loans from the SBA. Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: New York, Putnam and Rockland in New York; Fairfield in Connecticut; and Hudson, Middlesex and Union in New Jersey. The filing deadline to return SBA disaster loan applications for physical property damage is November 4, 2021.

To that effect we have opened a Business Recovery Center (BRC) where Customer Service Representatives are available to answer questions about the disaster loan program and assist business owners, homeowners and renters in completing their applications.

SBA’s Business Recovery Center relocated to Brooklyn Chamber of Commerce to Help Hurricane Ida Applicants and is located at:
253 36th St Suite C58 4th Floor
Brooklyn, NY 11232
(At Industry City, Building 3, 4th floor)

Hours: Monday – Friday, 9 a.m. – 5 p.m.
Closed: Saturday and Sunday
‍The center will stay open until further notice depending on the traffic received.

SBA has Customer Service Representatives at all FEMA DRC’s and mobile MDRC’s, including the office in Westchester

We opened a new Business Recovery Center (BRC) in White Plains, Westchester on Tuesday, Sept. 21.
SBA Business Recovery Center
New York Power Authority Building
123 Main Street
White Plains, NY 10601

Normal Hours: Monday – Friday, 9 a.m. – 5 p.m.
Closed: Saturday and Sunday
The center will stay open until further notice depending on the traffic received.  

Customer Service Representatives (CSR) will be available at the BRC to answer questions about the disaster loan program and assist business owners, homeowners and renters in completing their applications.  

Due to the ongoing COVID-19 pandemic, the SBA has established protocols to help protect the health and safety of the public. Visitors to the DLOC are encouraged to wear a face mask.

In addition to all BRC’s, we are partnering with FEMA and have Customer Service Representations (CSR) staff to help you file your disaster loan with SBA at all the FEMA Disaster Recovery Centers locations opened for this disaster.

What Types of Disaster Loans are Available?

• Business Physical Disaster Loans – Loans to businesses to repair or replace disaster-damaged property owned by the business, including real estate, inventories, supplies, machinery and equipment.  Businesses of any size are eligible.  Private, non-profit organizations such as charities, churches, private universities, etc., are also eligible. The law limits business loans to $2,000,000.
• Economic Injury Disaster Loans (EIDL) – Working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster.  These loans are intended to assist through the disaster recovery period.  
• Home Disaster Loans – Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

What are the Credit Requirements?

• Credit History – Applicants must have a credit history acceptable to SBA.
• Repayment – Applicants must show the ability to repay all loans.
• Collateral – Collateral is required for physical loss loans over $25,000 and all EIDL loans over $25,000.  SBA takes real estate as collateral when it is available.  SBA will not decline a loan for lack of collateral, but requires you to pledge what is available.

What are the Interest Rates?

Interest rates are as low as 2.855% for businesses, 2% for nonprofit organizations, and 1.565% for homeowners and renters, with terms up to 30 years.  Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition.

FIRST STEP:  Register with FEMA at DisasterAssistance.gov or download the FEMA mobile App., or call (800) 621-3362.

SECOND STEP:  Apply with SBA for a fiscal damage or economic injury disaster loan related to this disaster NY 17147.

How do I Apply?  
In person at one of the opened centers,
‍on-line via SBA’s secure website at https://disasterloanassistance.sba.gov/ela/s/ (Home (sba.gov)), or
‍by mail to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

For more information:

• SBA’s Customer Service Center at 800-659-2955 (800-877-8339 for the deaf and hard of hearing).
• For more information, email disastercustomerservice@sba.gov, or visit SBA’s website at www.SBA.gov.

The disaster declaration covers Bronx, Kings, Nassau, Queens, Richmond, Suffolk, and Westchester counties in New York, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.

Small businesses and most private nonprofit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans (EIDL): Nassau, New York, Putnam and Rockland in New York; Fairfield in Connecticut; and Hudson, Middlesex and Union in New Jersey.

The filing deadline to return SBA disaster loan applications for physical property damage is November 4, 2021.  

The deadline to return economic injury applications is June 6, 2022.

‍