SBA offers up to $2 million low-interest disaster loans for Western New York floods
Six New York counties face severe Flood damage from storms on September 3.
The short version
- Homeowners and renters can apply for property repair loans up to $500,000.
- Businesses qualify for up to $2 million to replace damaged physical assets and equipment.
Check your mailboxes if you run a business or own a home in Western New York. The US Small Business Administration, which provides government support and low-interest loans for business owners, just issued a physical disaster declaration covering six counties following severe flooding from storms on September 3.
New York Governor Kathy Hochul announced the federal move on Tuesday. The declaration makes eligible homeowners, renters, businesses and nonprofit organizations in Erie, Niagara, Genesee, Wyoming, Cattaraugus and Chautauqua counties eligible to apply for low-interest disaster loans to help cover recovery costs.
"New Yorkers deserve every dollar possible to help rebuild from these devastating floods," Governor Hochul said. Eligible homeowners may apply for up to $500,000 to repair their primary residences. Homeowners and renters may also seek up to $100,000 to repair or replace damaged personal property.
Businesses qualify for loans of up to $2 million to replace damaged real estate, inventory, machinery, equipment and other physical assets. Businesses and nonprofits can additionally apply for Economic Injury Disaster Loans of up to $2 million to cover working capital needs until normal operations resume.
Applications are available through the SBA MySBA Loan Portal. Applicants can also contact the SBA Customer Service Center by email at [email protected] or by calling 1-800-659-2955. The deadline to apply for physical damage loans is December 18, 2026.
Applications for economic injury loans are due July 19, 2027. Loan approvals and specific amounts remain subject to standard SBA eligibility requirements.
