Low-Interest Federal Assistance loans are now available

Posted 3/28/24

Town of Brookhaven supervisor Daniel J. Panico has announced that the United States Small Business Administration (SBA) is offering Low-Interest Federal Assistance Loans to eligible Long Island …

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Low-Interest Federal Assistance loans are now available

Posted

Town of Brookhaven supervisor Daniel J. Panico has announced that the United States Small Business Administration (SBA) is offering Low-Interest Federal Assistance Loans to eligible Long Island residents and small businesses impacted by severe weather conditions on Jan. 9 and 10, 2024.

Up to 3.5 inches of rainfall resulted in flooding throughout Brookhaven Town, as well as other Long Island communities. According to a recent press release issued by New York State Governor Kathy Hochul’s office, a State of Emergency was declared on January 8 for Long Island, thus activating the New York State Emergency Operations Center in Albany.

Furthermore, on March 15, the United States SBA designated a Brookhaven Town in-person Disaster Loan Outreach Center at the Mastic Recreation Center, 15 Herkimer Street in Mastic, NY 11950. Hours of operation are Monday to Friday from 9 a.m. to 6 p.m., Saturday from 10 a.m. to 2 p.m. and closed on Sunday. The Babylon Disaster Loan Outreach Center is located at Babylon Town Hall, 200 Sunrise Highway, Lindenhurst, NY 11757.

Hours of operations are Monday to Friday 8:30 a.m. to 4:30 p.m. and closed on Saturday and Sunday.

The following disaster loans are available:

Business Physical Disaster Loans: Loans to businesses for the repair or replacement of 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.

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.

Home Disaster Loans: Loans to homeowners or renters to repair or replace disaster-damaged real estate and personal property, including automobiles.

To apply for a disaster loan, please use the MySBA Loan Portal at www.lending.sba.gov. Applicants can also call the SBA Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov. People with a hearing or speech disability can dial 711 to access telecommunications relay services. Completed applications should be mailed to U.S Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, Texas 76155. The filing deadline to return applications for physical property damage is May 10, 2024. The deadline to return economic injury applications for physical property damage is December 11, 2024.

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