The U.S. Small Business Administration (SBA) will open a Business Recovery Center to help businesses impacted by the storms and flooding in New York on August 8-10, 2009.
The Center opens at the HSBC Bank USA in Gowanda on September 14.
SBA’s representatives will be there from Monday to Saturday to answer questions about the disaster loan program, explain the application process and support organizations to complete their applications.
The disaster declaration covers Cattaraugus, Chautauqua and Erie counties, which are eligible for both Physical and Economic Injury Disaster Loans from the SBA.
Small businesses and most private non-profit organizations in the following adjacent counties are eligible to apply only for SBA Economic Injury Disaster Loans: Allegany, Genesee, Niagara and Wyoming in the State of New York; and Erie, McKean and Warren in the Commonwealth of Pennsylvania.
Eligible organizations may borrow up to $2m for physical losses and interest rates are as low as 4% for businesses, with terms up to 30 years.
The deadlines to submit applications are the following:
– physical property damage: November 3, 2009
– economic injury: June 4, 2010.
For further information about the SBA’s Disaster Loan Programs, visit the website at www.sba.gov/services/disasterassistance.