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SBA Loans for Storm Related Losses

by Roger Cohen

The U.S. Small Business Administration (SBA) is making special disaster loans to eligible Rockland County homeowners, renters, businesses, non-profits and small agricultural cooperatives who suffered losses as a result of last month’s nor’easter.

Home Disaster Loans ‘€“ Loans to homeowners or renters to repair or replace disaster damaged real estate or personal property owned by the victim. Renters are eligible for their personal property losses, including automobiles.

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.

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Economic Injury Disaster Loans (EIDLs) ‘€“ are working capital loans to help small businesses, small agricultural cooperatives 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.

The filing deadline for applications for physical damage to homes, personal property, businesses is June 1, 2010. The application deadline for economic injury loans is January 3, 2011.

For more information, contact SBA Disaster Assistance Customer Service Center at (800) 659-2955 or email

See Also: FEMA Funds Requested For Nyack’s Marina

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